Oil prices were steady on Wednesday as investors continued to assess the extent of the recovery in Chinese demand and the possibility that OPEC will keep output unchanged at its next meeting.
The European session saw US WTI oil futures little changed at $80 a barrel while Brent oil traded hovering around $86 a barrel.
Earlier on Tuesday, both benchmarks fell more than 1% on weak economic data from the United States and the UK, fueling fears of a global slowdown.
In the meantime, the reopening of China remains the main factor influencing the trading of the black commodity.
Crude oil has rebounded since falling about 10% in the first two sessions of the year on hopes that Chinese consumption will pick up, although a weaker US dollar also helped the commodity.
Meanwhile, OPEC and its allies known as OPEC+ are scheduled to meet next week, where they are expected to maintain oil production at current levels.
