Oil prices fell early on Wednesday, squeezed between concerns of oversupply, sparked by rising Libya output, and fears of reduced future investment in the industry. Brent crude futures, the international benchmark for oil prices, were at $51.61 per barrel at 0105 GMT, down 26 cents, or 0.5 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $47.63 a barrel, down 20 cents, or 0.4 percent.

Bernstein Research warned that low prices and ample supplies were resulting in low oil industry investment levels.

Official inventory data by the U.S. Energy Information Administration is due to be released late on Wednesday.

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