Oil prices fell on Wednesday on persistent worries about oversupply amid global coronavirus-related lockdowns and as the International Monetary Fund (IMF) warned of a deep recession. Both benchmarks were stronger earlier in the session, as investors looked for bargains following the slumps on Tuesday, but the higher U.S. crude oil stocks fuelled concerns that a record global output cut by producers would not offset plunging fuel demand due to efforts to contain the coronavirus pandemic. U.S. crude inventories rose by 13.1 million barrels in the week ended on April 10, data from industry group the American Petroleum Institute showed on Tuesday, more than analyst expectations for a build of 11.7 million barrels.
