Rising US oil output, mostly from shale drillers, contributing to ineffectiveness of Opec-led cuts
Crude prices have fallen about 12 per cent since May 25
On the other hand, production in the US has also jumped by 10% over the past year to 9.33 mn bpd
Crude inventories decreased by 1.7 million barrels
Crude prices have fallen by more than 10% since late May, pulled down by a supply glut
Saudi Arabia, the world's top oil exporter, to cut production by 1.8 million barrels per day
Crude prices continued on their downward spiral following Opec's decision to extend output cuts
Petronet says no impact on Qatar LNG
Libya is an Opec member, but it was exempt from cuts; US isn't participating in self-imposed cuts
Brent futures and US WTI futures gained more than 10% from their May lows below $50/barrel
Daily change can help if marketers reduce throughput and transportation time
Energy ministers from both countries said cuts should be prolonged for 9 months
Brent crude was at $51.66 per barrel at 0410 GMT, up 82 cents, or 1.6%, from its last close
Opec seems to be encouraged by the contribution of non-Opec producers to the output cuts
US dollar recouped all of its losses against a basket of major currencies
Pressure on the Opec to extend output cuts beyond June
The WTI delivery hub in Cushing, Oklahoma, could be a particular focus in Tuesday's API data
Production cut by the Opec was failing to reduce a global supply overhang
Dollar steadied against a basket of currencies after touching a two-week low
Brent crude was down 11 cents, or 0.21%, at $51.26 per barrel