Shares of oil companies have dropped sharply in recent days. Growth fears and expectations of more supply from OPEC+ are pressuring crude prices.

Oil prices slid 2% to a near four-year low on Monday on worries U.S. President Donald Trump's latest trade tariffs could push economies around the world into recession and reduce global demand for energy.

Oil prices were edging lower in early trade after plunging to a four-year low in the previous session amid growing concerns that U.S. tariffs might lead to a global recession and hurt demand. Brent and WTI were both down 0.