On Tuesday, oil prices nudged up reversing the previous session's declines, as expectations for a strong economic recovery in China outweighed concerns that further interest rate hikes in the United States would have a negative impact on the consumption.

Brent crude futures edged up by 1.1%, to $83.32 per barrel while U.S. WTI crude futures added 1.6% to $76.89 per barrel.

Gains were supported by projections of a revival in China's demand, and the market is anticipating crucial during the upcoming couple of days. The second-largest economy in the world experienced increased manufacturing activity in February, according to a poll conducted by Reuters.

For additional demand signs, the market will be watching the most recent data on U.S. oil stocks that are expected from the American Petroleum Institute business organisation on Tuesday and the government's Energy Information Administration on Wednesday.

According to a preliminary Reuters poll, analysts predict that oil stockpiles will increase by 400,000 barrels.