India, Feb. 18 -- Oil prices fell over 1 percent on Tuesday as investors continued to focus on a possible drop in Chinese oil demand caused by the impact of the coronavirus (Covid-19).
A lack of any coordinated action by OPEC and its allies to support the market also weighed on the commodity.
Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA).
The next OPEC+ meeting in March is set to consider an advisory panel's recommendation to lower supply by a further 600,000 bpd after talks on holding an earlier meeting in February appear to have made no progress.
Benchmark Brent crude declined 1.55 percent to $56.78 a barrel after rallying in the previous f...