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Oil prices skidded to its lowest in four weeks, extending last week's decline, as signs of global oversupply and increasing US production keep countering a widely anticipated surge.
Brent crude futures on Tuesday stood at $51.63 a barrel. The West Texas Intermediate crude oil futures stood at $49.23 per barrel.
Crude prices lost around 7% last week, partly on hints the escalating American shale output counter efforts by OPEC and non-OPEC members to slash their output in order to shore up the market.
