Oil prices rose slightly on Tuesday. Black gold thus recovers part of the losses of the previous session.

Traders are focusing on supply cuts by the world's largest oil exporters, Saudi Arabia and Russia, and are waiting for data that could help verify demand.

However, Brent rose 33 cents, or 0.4%, to $78 per barrel at 0050 GMT, and American West Texas Intermediate oil was up 35 cents, or 0.5%, to $73.34.

Prices fell 1% on Monday on higher expectations that further increases in U.S. interest rates are coming and that investors have taken profits after last week's 4.5% rise.