LONDON—Oil prices were little changed on Tuesday as traders weighed supply cuts by the world’s biggest oil exporters and hopes for higher demand in the developing world in the second half of 2023 against a sluggish global economic outlook.
Brent crude futures were up 2 cents to $77.71 a barrel by 0945 GMT, and U.S. West Texas Intermediate crude was up 5 cents at $73.04.
Supply cuts by top exporters Saudi Arabia and Russia set for August helped to lift the benchmark prices, which were also supported as the U.S. dollar fell to a two-month low.
A weaker dollar makes crude cheaper for holders of other currencies and often boosts oil demand….