:Oil prices extended losses on Tuesday as the threat of further interest rate increases and continued Russian crude flows cancelled out demand recovery expectations from China.
The demand outlook is still uncertain as Russia's exports seem unaffected by sanctions, despite China's reopening, she added. The market also turned its attention to a planned virtual meeting on Feb. 1 at 1100 GMT of the ministers of the Organization of the Petroleum Exporting Countries and others including Russia, a group known as OPEC+.
OPEC+ agreed in October to cut its production target by 2 million barrels per day , about 2 per cent of world demand, from November until the end of 2023.
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