Oil prices fell on Tuesday, hitting their lowest in 11 days as a U.S. government report said shale oil output in May was expected to post the biggest monthly increase in more than two years.
At a time when OPEC and other producing nations have been trying to cut output, government drilling data showed U.S. shale production next month was set to rise to 5.19 million barrels per day (bpd). Output from the Permian play, the country's largest shale region, was expected to reach a record 2.36 million bpd.
Global benchmark Brent crude futures fell 26 cents, trading at $55.10 a barrel. Brent touched $54.76 intraday, its lowest since April 7.
U.S. West Texas Intermediate crude futures fell 24 cents to $52.41 a barrel. Their intraday low was $52.14, also the weakest since April 7.