Global oil benchmark Brent fell on Wednesday, reversing some of the gains made after Saudi Arabia and Russia agreed to deepen output cuts into August.
Brent was down 46 cents, or 0.6%, at $75.79 a barrel by 0704 GMT, after climbing $1.60 on Tuesday.
The benchmark price drop reflects concerns over a global economic slowdown.
U.S. West Texas Intermediate crude futures were at $70.86 a barrel, up $1.07, or 1.5%, from Monday’s close.
