Oil futures steadied on Tuesday on signs that OPEC plans to maintain production cuts despite pressure from U.S. President Donald Trump, whose comment criticizing rising crude prices sent the market into a tailspin a day earlier.
Prices slid on Monday, when many traders were out of the office attending International Petroleum Week, a series of industry events in London, after Trump called on OPEC to ease its efforts to boost the oil market. Prices were "getting too high," the president said.
An OPEC source told Reuters on Tuesday OPEC would stick to its agreement to tighten crude supplies regardless of Trump's recent tweet.
U.S. West Texas Intermediate crude ended Tuesday's session roughly flat, settling 2 cents higher at $55.50. WTI plunged more than 3 percent in the previous session.