RIYADH: Oil edged lower on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy.
Brent futures for March delivery fell 13 cents to $81.97 a barrel, a 0.1 percent loss, by 0511 GMT. US crude dropped 28 cents, or 0.3 percent, to $76.65 per barrel.
Both benchmarks plunged more than 4 percent on Tuesday, with Brent suffering its biggest one-day loss in more than three months.
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