Oil dropped well over a dollar to below $62 a barrel on Wednesday, placing it on course for a sixth consecutive fall and the longest losing streak since mid-December, after U.S. data showed a big rise in fuel stocks.

U.S. crude stocks rise to 18-month high… U.S. data at 1330 GMT expected to show more job losses…  OPEC signals it may cut output further…

Oil fell $2 a barrel to below $36 on Wednesday after a U.S. government report showed larger-than-expected rises in inventories of gasoline and distillates.

U.S. weekly inventory report shows fuel stock rise sharply… Year-on-year rise in U.S. gasoline purchases- Mastercard… Russia says OPEC to make “significant cuts”