The decline in black commodity trading continued on Tuesday, hit by expectations of higher Russian oil supplies.
Early trading in the European session saw Brent crude oil futures trading lower at around $84 a barrel, while US WTI fell to $77 a barrel.
Both benchmarks fell around 2% on Monday, weighed down by concerns over oversupply in the market following the latest expectations on Russian oil.
Oil cargoes from Russia's Baltic ports are forecast to rise by 50% this month as sales try to meet strong demand in Asia.
Prices also fluctuated following the announcement by President Vladimir Putin's administration that allowed Russian oil companies to determine their own oil sales prices.
This means that companies can use whatever 'discount' is necessary to sell the oil in their holdings.
As a result, oil trade plunged lower and failed to take advantage of the positive news from the publication of Chinese economic data.
Meanwhile, investors are gearing up for a meeting of OPEC and its allies including Russia or better known as OPEC+ on Wednesday (1 February) which is expected to keep current oil production policy unchanged.
