SINGAPORE, Dec 17 (Reuters) - U.S. crude oil futures slipped for a second session in three on Tuesday, with investors cautious after upbeat U.S. manufacturing data strengthened expectations the Federal Reserve could soon start cutting its monetary stimulus.
The Fed begins a two-day policy meeting later in the day.
* U.S. crude for January delivery had eased 18 cents to $97.30 a barrel by 0054 GMT after rising by nearly a dollar on Monday.
* Brent crude jumped $1.64 to settle at $110.47, buoyed by tighter supply as oil-exporting ports in strife-hit Libya remained shut. The port blockages have slashed Libya's oil exports to 110,000 barrels per day from more than 1 million barrels in July.
* Strong data from Germany, where factory activity expanded for an eighth straight month, also boosted Brent along with an increase in U.S. manufacturing output for a fourth straight month.
* The manufacturing data added to recent signs of strength in the U.S. economy which could push the Fed to decide to cut its stimulus as early as this week.
* U.S. crude oil production will surge to 9.5 million bpd by 2016, fueled by the growth in shale development, the Energy Information Administration said. By 2019 it will peak at 9.61 million bpd, nearly matching a 1970 record of 9.64 million bpd.
* European Union governments pledged to suspend some sanctions against Iran as soon as the U.N. nuclear watchdog, the International Atomic Energy Agency, verifies that Tehran has curbed its atomic work under last month's pact between Iran and six other countries.
* China's November crude oil output inched up 0.4 percent from a year ago to 17.27 million tonnes, according to a website that carries data from the National Statistical Bureau. For the first 11 months, crude oil output gained 1.6 percent to 190.31 million tonnes.
* Asian shares got off to a promising start on Tuesday on the back of rising U.S. manufacturing output and a jump in euro zone business activity.
1000 Germany ZEW economic sentiment
1245 U.S. ICSC weekly chain store sales
1330 U.S. CPI
1330 U.S. Current account
1500 U.S. NAHB housing market index
2130 U.S. API weekly crude stocks
Federal Reserve begins two-day meeting on monetary policy
(Reporting by Manolo Serapio Jr. and Keith Wallis; Editing by Joseph Radford)