Oil prices fell on Wednesday on doubts OPEC and Russia will agree on extending a crude production cut that the market has already priced in, and after a report of an unexpected rise in U.S. crude oil inventories. U.S. West Texas Intermediate (WTI) crude futures were at $57.69 a barrel at 0543 GMT, down 30 cents, or 0.5 percent below their last settlement. Traders said WTI was pulled lower by a report from the American Petroleum Institute (API) late on Tuesday that showed U.S. crude inventories rose by 1.8 million barrels in the week ended Nov. 24 to 457.3 million barrels.

Official U.S. oil inventory data is due later on Wednesday. WTI was also weighed down by the gradual restart on Tuesday of the Keystone pipeline, which supplies Canadian crude to the United States. Brent crude futures, the international benchmark for oil prices, were at $63.17 a barrel, down 44 cents, or 0.7 percent.