Oct 13 (Reuters) - Oil prices struggled to find a footing on Thursday after easing in the previous session on a weakening global demand outlook.
"While the OPEC+ production cuts may provide somewhat of a floor for oil prices, upside may seem limited as economic conditions will run the risks of further moderation as a trade-off to further Fed's tightening process," Yeap said.
The U.S. Energy Department lowered its expectations for both production and demand in the United States and globally.
Worsening demand for crude oil is contributing to inventory builds.
U.S. crude oil stockpiles rose by about 7.1 million barrels for the week ended Oct. 7, according to market sources citing API data.