The international benchmark Brent contract dipped 6 cents to $90.58 a barrel at 0003 GMT, while U.S. West Texas Intermediate crude futures edged 2 cents lower to $87.27.
Brent reached $90 a barrel last week for the first time in 10 months after Saudi Arabia and Russia announced they would extend voluntaryInvestors awaited industry data on U.S. crude stockpiles due at 2030 GMT on Tuesday. Crude inventories were expected to have fallen by about 2 million barrels in the week to Sept. 8, a preliminary Reuters poll showed on Monday.
Also looking ahead, U.S. August consumer price index data due on Wednesday could provide a steer on whether more increases to interest rates will be on the cards. The European Central Bank will announce its interest rate decision on Thursday. The European Commission on MondayThe International Energy Agency and the Organization of the Petroleum Exporting Countries also will release monthly reports this week.
The IEA last month lowered its 2024 forecast for oil demand growth to 1 million bpd, citing lackluster macroeconomic conditions. OPEC's August report, meanwhile, kept its 2.25 million bpd demand growth forecast for 2024 unchanged.