LONDON — Oil prices edged lower on Tuesday ahead of an expected build in US crude oil stocks and on Venezuelan comments that the oil market remains oversupplied by 10%. Analysts polled by Reuters expect US commercial crude oil inventories to have risen 2.3-million barrels in the week to September 16, paving the way for a bearish market reaction, because a rise in stocks indicates growing oversupply.The American Petroleum Institute (API) is scheduled to release its weekly crude stocks data at 8.30pm GMT on Tuesday.International benchmark Brent crude oil futures were trading at $45.58 per barrel at 8.22am GMT, down 37c day on day.US West Texas Intermediate (WTI) crude futures were down 33c at $42.97 a barrel.Oil prices also reacted to comments made by Venezuela’s oil minister Eulogio Del Pino on Monday that global oil supply of 94-million barrels per day needs to fall by about a tenth if it is to match consumption.Members of oil cartel Opec and other oil producers are set to hold an i...
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