Oil dips before holiday week; Libyan output boost weighs

By Scott DiSavino NEW YORK (Reuters) - Oil edged lower on Friday ahead of the Christmas and New Year holiday week as the market waited to see how OPEC would manage its planned output cuts with Libya expecting to boost production. U.S. West Texas Intermediate crude fell 22 cents, or 0.4 percent, to $52.73 per barrel. "The complex has begun the pre-holiday trade under moderate downside pressures that are erasing yesterday's gains," Jim Ritterbusch, president of Chicago-based energy advisory firm R