Oil prices rebounded in Asian trade on Tuesday as traders covered short positions after prices fell at least 3 percent in the previous session, but gains were capped by worries about oversupply and the health of the global economy. Iran boosting crude production when international sanctions are lifted and weaker economic growth in China, the world's second-largest economy, weighed on markets, Le Brun said. Iran plans to increase crude production by 500,000 barrels per day within a week of the lifting of sanctions, a senior Iranian oil official was quoted as saying on Monday, selling the oil to traditional customers in Asia and Europe.