Oil drops on doubts output cut will be deep enough to end glut

By Henning Gloystein SINGAPORE (Reuters) - Oil prices fell on Wednesday on persistent doubts a planned crude production cut led by OPEC and Russia would be deep enough to end a supply overhang that has dogged markets for over two years. International Brent crude oil futures were trading at $53.69 per barrel at 0131 GMT, down 24 cents, or 0.45 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were down 19 cents, or 0.37 percent, at 50.74 per barrel.