The Organization of the Petroleum Exporting Countries cut its forecast for oil-demand growth for the fourth consecutive month after further delaying its planned output hike amid market concerns over weaker global consumption and lower prices.

Technical analysis suggests that oil prices are eyeing a bounce but could face resistance around $74.00 and $76.35. Click to read.

Oil futures finished higher on Tuesday, recouping a small portion of back-to-back losses driven by worries about the prospects for demand, which contributed to a retreat in the U.S. benchmark below the $70-a-barrel threshold.