Oil prices have slipped for a second straight day, as a slump in US crude stockpiles was offset by a larger-than-forecast rise in petrol inventories and as US crude output continued to grow to record highs.

Oil prices have slipped for a second straight day, as a slump in US crude stockpiles was offset by a larger-than-forecast rise in petrol inventories and as US crude output continued to grow to record highs.