Crude oil prices opened on a lower note on Thursday after U.S. President Donald Trump questioned whether he wanted to make a deal with China, further prolonging the trade war.
Trump accused China of 'not stepping up to the level' the U.S. wants on the initial phase one deal that was scheduled for signing this month.
'We continue to talk to China. China wants to make a deal,' Trump told reporters at the White House.
'The question is do I want to make a deal because I like what is happening right now, we are taking billions and billions of dollars,' he added.
The U.S. and China have so far failed to reach an agreement as the trade war rolls into its 19th month and continues to negatively impact forecasts for global oil demand.
Oil prices jumped more than 2.5% during the previous day's trading on Wednesday after Russia renewed its commitment to support OPEC to balance the global oil market.
Russia and OPEC have 'a common goal' of keeping the oil market predictable, and it will continue cooperating with the organization for the agreement to cut production, Russian President Vladimir Putin said on Wednesday.
However, Moscow will ask OPEC next month to exclude its gas condensate output from its production cap under the OPEC+ deal, according to Russian Energy Minister Alexander Novak on Wednesday.
Over the winter season, production of gas condensate in Russia increases, which also leads to a higher oil output from wells.
Novak said gas condensate is not exported, but is included in his country's oil production statistics.
International benchmark Brent crude was trading at $62.23 per barrel at 0645 GMT on Thursday for a 0.35% loss after closing Wednesday at $62.45 a barrel.
American benchmark West Texas Intermediate was at $56.81 a barrel at the same time for a 0.28% decline after ending the previous session at $56.97 per barrel.
By Ovunc Kutlu
Anadolu Agency
energy@aa.com.tr