Updated from 2:33 p.m. EST
Crude oil futures inched down Tuesday as traders focused on the prospect of another OPEC production cut over brimming fuel supplies and the return of warm weather.
The Organization of the Petroleum Exporting Countries meets in Nigeria next week to consider deeper output cuts. The cartel's production cut of 1.2 million barrels a day went into effect last month but has not been as effective at propping up oil prices as members would have liked.
Until last week, oil prices have traded between $57 and $62 for the past two months. It took increasingly bullish comments from OPEC members to boost oil prices up to $63. Over the past week, several OPEC ministers have said they believe the group needs to cut exports by at least 500,000 barrels per day to shore up sagging prices. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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