ANKARA, Jan 7 (Bernama-Anadolu) -- Oil prices edged lower on Wednesday as investors weighed uncertainty over Venezuela's oil output following the seizure of President Nicolas Maduro, while expectations of ample global supply continued to cap prices, Anadolu Ajansi reported.
International benchmark Brent crude stood at $59.98 per barrel at 9.28 a.m. local time (0628 GMT), down 0.6 per cent from the previous close of $60.36.
US benchmark West Texas Intermediate (WTI) fell 0.9 per cent to $56.26 per barrel, compared with $56.78 in the prior session.
US President Donald Trump said Tuesday that interim authorities in Venezuela had agreed to transfer between 30 and 50 million barrels of sanctioned oil to the US to be sold at market price.
Experts say Trump's remarks suggest a preference for boosting supply rather than tightening it, adding to existing concerns about oversupply in global oil markets.
Meanwhile, the American Petroleum Institute said US commercial crude inventories fell by 2.8 million barrels last week, defying market expectations for a 1.2 million-barrel build. The unexpected drawdown signalled resilient US demand and helped limit further price declines.
-- BERNAMA-ANADOLU
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