On Tuesday, oil prices edged higher in early trading after falling in the previous session off weaker than projected Chinese growth, as investors looked at the possibility of tightening US supplies.

Brent crude was up 11 cents to $78.61 per barrel by 00:17 GMT, as US West Texas Intermediate crude gained 15 cents to hit $74.30 per barrel.

Both contracts had lost over 1.5% in Monday’s trading.

Investors were anticipating a Tuesday release of industry data which was expected to register a drop in US crude oil stockpiles and product inventories last week.

At the same time, US shale production is expected to drop by 9.40 million barrels per day (bpd) in August, which would mark the first monthly decline since December of 2022, according to Energy Information Agency data released on Monday.

However analysts still note that there could be a boost to global supplies as two of three Libyan oil fields which were shut last week resume output. Output had been temporarily halted by a protest against the kidnapping of a former finance minister.

Worries over China’s economic recovery are continuing to weigh on prices. The nation’s gross domestic product (GDP) grew 6.3% year over year for the second quarter, missing analysts’ projections of 7.3% as the economic recovery following its pandemic restrictions being lifted continues to sputter.