Oil Prices Fall on Oversupply Concerns

Oil prices eased on Tuesday as concerns over a crude and refined fuel glut outweighed an expected cut in US shale production and a probable further draw in US crude inventories. 
Crude prices fell more than 1% in the previous session after worries about potential supply disruptions stemming from an attempted coup in Turkey proved unfounded. 
Brent crude slipped 13 cents to $46.83 a barrel as of 0349 GMT after finishing the previous session down 65 cents, or 1.4%. 
US crude, known as West Texas Intermediate (WTI), fell 14 cents to $45.10 a barrel after settling 71 cents, or about 1.6%, lower in the previous session. 
US shale oil production is expected to fall in August for a tenth straight month, by 99,000 barrels per day to 4.55 million bpd, according to a US drilling productivity report on Monday.