Oil prices fall on oversupply concerns despite output cuts

By Keith Wallis SINGAPORE (Reuters) - Oil prices eased on Tuesday as concerns over a crude and refined fuel glut outweighed an expected cut in U.S. shale production and a probable further draw in U.S. crude inventories. Crude prices fell more than 1 percent in the previous session after worries about potential supply disruptions stemming from an attempted coup in Turkey proved unfounded. It's a knife edge between optimism and pessimism," said Ben Le Brun, market analyst at Sydney's OptionsExpres