Oil fell on Tuesday after International Energy Agency (IEA) Executive Director Fatih Birol said the explosive growth in U.S. shale oil output is expected to extend well into 2018, likely delaying market rebalancing. Front-month U.S. West Texas Intermediate crude futures fell 1.81 percent at $62.84 a barrel. Front-month Brent crude futures edged 1.66 percent lower to $66.41 a barrel. The spread between the two benchmarks stood at $3.57 a barrel.

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