Oil was flat after the market tumbled to the lowest close in more than five months as the market awaited the midweek OPEC+ meeting.
US crude oil fell below $94. Brent oil is also below $100.
The Organization of the Petroleum Exporting Countries and its allies, including Russia, will meet virtually on Wednesday to decide on production policy for September after the US called for more production in Saudi Arabia.
US President Joe Biden visited Saudi Arabia last month for additional supply.
Crude oil opened August with losses after falling in the previous two months on concerns that the global slowdown would reduce energy demand. The decline lost all gains since Moscow's invasion of Ukraine at the end of February, despite the US and European Union imposing a series of sanctions on Russia's energy exports.
Investors will also look at BP's balance sheet on Tuesday after competitors including Shell Plc posted record profits. Shell chief executive Ben van Beurden said last week that oil prices are more likely to rise than fall as tightness in supply outweighs risks to demand.
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