Oil prices dip on unexpected growth in U.S. crude stocks
Brent crude was down 20 cents at $77.30 per barrel at 00.41 GMT, after settling the last session up 2.8 percent.
U.S. West Texas Intermediate crude was down 20 cents at $68.01 a barrel. In the previous session, it settled up $1.48, or 2.2 percent, at $68.21 per barrel.
A possible production increase by the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC members including Russia has been in focus, especially after Saudi Arabia, de facto leader of the oil cartel, and Russia have discussed boosting output by some 1 million barrels per day.
OPEC and some non-OPEC members have committed to curb their output by about 1.8 million barrels per day until the end of 2018, and they will meet in Vienna on June 22 whether or not their commitment should remain unchanged.
A Gulf source familiar with the thinking of Saudi Arabia said OPEC and its allies aim to continue their agreement to cut oil output by the end of this year but are ready to make gradual adjustments to offset any supply shortfall.