Oil Prices Little Changed on Mixed Saudi Messages before U.S. Stock Data

Oil prices were little changed on Tuesday, giving up gains after Saudi Arabia’s oil minister gave mixed messages on future OPEC production cuts, while the market also braced for data that was expected to show a ninth straight weekly increase in U.S. crude inventories. At the CERAWeek energy conference in Houston, Saudi Oil Minister Khalid Al-Falih said last year’s agreement by OPEC and non OPEC countries to curb supplies and boost prices has improved oil market supply and demand fundamentals.