Oil held losses near a two-month low on fading prospects for a resolution to the protracted U.S.-China trade spat and signs American crude inventories expanded for a fourth week.
The U.S. Energy Information Administration has further cut its Brent oil price forecast.
Refiners, big energy traders and national oil companies are expanding beyond their traditional roles.
Canadian heavy oil prices have weakened ahead of an anticipated announcement that Alberta will ease production limits in exchange for shipping more crude by rail.
Oil steadied near a 2-month low as renewed tensions between the U.S. and China clouded hopes for a resolution of the trade dispute that's souring the outlook for fuel demand.
Upstream operators can save up to $100 billion in the 2020s through automation and digitalization initiatives, according to Rystad Energy.
WTI and Brent crude oil prices declined Tuesday as the market continues to contemplate abundant oil supplies and fears about the economy's direction.
Oil held the biggest weekly drop since July as signs that reaching a comprehensive U.S.-China trade deal will be tough gave no respite from a worsening demand outlook.