Crude oil futures ended lower on Tuesday amid concerns about growth after data showed a slowdown in Eurozone manufacturing activity amid rising input costs due to supply chain bottlenecks and logistical problems. Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+ will meet on Thursday to decide on output levels. The alliance is expected to stick to the gradual, monthly production increases of 400,000 barrels per day.
Benchmark crude oil futures for December delivery fell $0.14 or about 0.2 percent to settle at $83.91 a barrel on the New York Mercantile Exchange. Brent crude for January delivery declined $0.18 or 0.2 percent to settle at $84.53 a barrel on London's Intercontinental Exchange.