Oil prices fell to their lowest levels since April on Friday, with Brent on track for its biggest monthly loss since December 2015, pressured by slowing economic growth.
Oil prices jumped over 2% on Monday on growing Nigerian oil output disruptions and Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit.
Oil prices slipped on Monday over worries that the result of next Sunday's meeting of producers in Qatar aimed at freezing current output levels would fail to improve the current supply-demand balance.
Oil prices edged lower in volatile trading after Kuwait said it would agree to an output freeze only if all major producers took part and Goldman Sachs analysts poured cold water on prospects for a sustained rally.
Oil prices slid as record US crude inventories at the Cushing delivery point and worries about a global economic slowdown weighed on markets, and Goldman Sachs said prices would remain low and volatile.
