Oil prices slipped on Tuesday as concerns that the global economy could be slowing outweighed an agreement by OPEC and allies, including Russia, to extend supply cuts until next March.
Brent crude futures LCOc1 were down 42 cents, or 0.65%, at $64.64 a barrel by 1220 GMT.
U.S. crude futures for August CLc1 were down 38 cents, or 0.64%, at $58.71 a barrel, after touching their highest in more than five weeks on Monday.
The Organization of the Petroleum Exporting Countries along with other top producers, including Russia, agreed on Tuesday to extend oil supply cuts until March 2020 as members overcame differences to try to prop up prices.
Meanwhile, U.S. crude oil stockpiles were seen falling for a third consecutive week, a preliminary Reuters poll showed on Monday, also supporting prices.
But signs of a global economic slowdown which may hit oil demand growth, means OPEC and its allies may face an uphill battle to shore up prices by reining in supply.
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