International Brent futures were down 11 cents at $37.58 a barrel.

Both Brent and WTI extended their declines for a third session as investors doubted that producers will be able to rein in global overproduction that has seen crude prices tumble by as much as 70% since mid-2014.

Tuesday's declines came after US gasoline demand during January fell for the first time in 14 months. Meanwhile in Asia, oversupply and slowing economic growth is forcing some traders to store unwanted gasoline aboard tankers as onshore storage facilities in Singapore and Malaysia are filled to the rims.

Growth in gasoline demand has been one of the strongest pillars of demand in the fuel complex, largely credited for preventing crude prices from tumbling even further than they have.

Analysts say crude prices could fall lower again soon, as an emerging gasoline glut potentially adds to a global overhang in crude production that sees over 1 million barrels of oil produced in excess of demand every day.

"Global oil balances will witness sizeable implied inventory builds in H1'16, suggesting that the price of oil can easily revisit the lows seen earlier this year," French bank BNP Paribas said in a note to clients.

To address the crude overhang, major producers like Saudi Arabia and Russia have proposed a freeze in output at January levels, when both pumped at or near record levels, a move analysts have dismissed as ineffective.

"Only a feeble mind sees a freeze in production as good news! It is the worst news as it guarantees over-production and rising inventories," consultancy FGE said on Tuesday in its monthly oil report, adding that crude prices could see a downward correction to between $25 to $35 per barrel within the second quarter.