Oil eases on bearish U.S. inventory report, doubts over OPEC cut

By Scott DiSavino NEW YORK (Reuters) - Oil prices eased on Wednesday on bearish U.S. petroleum inventory data and doubts that production cuts promised by OPEC and Russia would be deep enough to end a supply overhang that has weighed on markets for more than two years. Brent futures were down 46 cents, or 0.9 percent, at $53.47 a barrel by 11:19 a.m. EST (1619 GMT). U.S. crude fell 59 cents, or 1.2 percent, to $50.34 per barrel. The U.S. Energy Information Administration EIA said crude inventorie