Dhaka, May 6 -- Oil prices rebounded over 1.0 per cent on Tuesday with technical rebound and dip buying after a drop in prior session by OPEC+ decision to accelerate increases in output, although concerns about the market surplus outlook persisted.

Brent crude futures rose 92 cents to $61.15 a barrel by 0309 GMT, while US West Texas Intermediate crude added 89 cents to $58.02 a barrel, reports Reuters.

Both benchmarks had settled at their lowest since February 2021 on Monday, driven by an OPEC+ decision over the weekend to further speed up oil production hikes for a second consecutive month.

"Today's slight rebound in oil prices appears more technical than fundamental," said Yeap Jun Rong, a market strategist at IG. "Persistent headwin...