Oil in the red on a background of the US production growth

Oil prices fell during morning trading on Tuesday amid rising of drilling activity in the US.
By 6.27 GMT, futures for Brent oil fell by 0.11 percent to $55.17 per barrel.
Futures for WTI US crude at the same time traded at a mark of $52.49, 0.27 percent lower than the previous close.
North Sea oil fell from January's peak by more than 5.6 per cent, WTI - around 3 per cent.
The number of drilling rigs in the United States rose for the week ended 27 January, by 15 units to 566 showed Friday data of oilfield services company Baker Hughes. This is the highest value since November 2015.
Analysts believe that the increase in drilling activity and, as a consequence, production in the US can neutralize the effect of OPEC agreements and non-OPEC countries to cut production.
Brent futures for March delivery today traded at a premium above $2.7 per barrel for WTI, reflecting the balance of alignment between supply and demand on the world market due to OPEC's pact and the excess of the market in US crude because of the continuing growth in the number of drilling rigs.