Oil prices traded little changed as investors awaited a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, known as OPEC+, to set further oil production.
At the opening of the European session, Brent crude futures traded hovering around $100 a barrel, while US WTI traded flat at $94 a barrel.
At a meeting scheduled for Wednesday, OPEC+ is expected to keep output unchanged in September, or do little more.
Analysts expect no change due to a weak outlook for demand amid growing fears of a recession.
In addition, the main producer of Saudi Arabia is reluctant to cover the loss of supply due to the sanctions imposed on Russia over the issue of the invasion of Ukraine.
Adding to the gloom over the demand outlook was data from the American Petroleum Institute (API) showing US oil supplies rose by 2.2 million barrels last week.
