European shares ease as oil stocks fall on demand concerns

Energy stocks had clocked their biggest one-day gain since November on Monday after Opec+ announced voluntary production cuts of 1.66m barrels per day from May until the end of 2023

Producer prices are an early signal of inflationary trends because their changes are usually transferred onto final consumers.

European shares slipped on Tuesday as heavyweight energy stocks fell on worries about demand for oil after weak economic data in the US, while eurozone producer prices declined for a fifth-consecutive month in February.

The STOXX 600 index closed 0.1% lower, with oil and gas stocks reversing early gains and weighing on the pan-European index.