Oil down 1 percent on OPEC worry, offsetting U.S. inventory fall

By Ethan Lou NEW YORK (Reuters) - Oil fell more than 1 percent on Wednesday even after a surprise drawdown in U.S. crude inventories, as traders remained cautious that OPEC would be able to cut production come late November. U.S. crude stockpiles fell 553,000 barrels last week, the U.S. Energy Information Administration (EIA) said, compared with the 1.7 million-barrel build analysts polled by Reuters forecast. Crude inventories in the world's largest oil producer have fallen unexpectedly in seve