Oil Falls as Economic Fears Overshadow Saudi Output Cut

Oil pours out of a spout from the original 1859 well that launched the modern petroleum industry at the Drake Well Museum and Park in Titusville, Pa., on Oct. 5, 2017. Brendan McDermid/Reuters

LONDON—Oil prices tumbled more than $1 a barrel on Tuesday, after a strong rally in the previous session as worries about the global economic growth outweighed Saudi Arabia’s pledge to deepen output cuts.

Brent crude futures were down $1.33, or 1.73 percent, to $75.38 a barrel by 0923 GMT. U.S. West Texas Intermediate crude fell $1.39, or 1.93 percent, to $70.76 a barrel.