Tuesday saw minimal movement in oil prices as traders evaluated a potential tightening of U.S. crude supplies against weaker-than-anticipated Chinese economic growth.

Brent crude edged up 26 cents at $78.76 per barrel by 1151 GMT, while U.S. West Texas Intermediate (WTI) crude advanced by 28 cents to $74.43 per barrel.

The world's top oil importer, China, released disappointing economic statistics on Monday, and some Libyan oilfields only partially restarted. As a result, both benchmark contracts had dropped by more than 1.5%.

Market players were anticipating data from the sector later on Tuesday that was predicted to show a decline in product and crude oil stocks in the United States last week.

According to data released on Monday by the Energy Information Administration, U.S. shale oil output is expected to experience its first monthly fall in August since December 2022.

Even yet, it is anticipated that the restart of production at two of the three Libyan fields that were shut down last week will increase world supply. A demonstration protesting the kidnapping of a former finance minister had an impact on output.