Oil ends down on U.S. inventory surge, doubts on OPEC resolve

By Ethan Lou NEW YORK (Reuters) - Oil prices settled down more than 1 percent on Thursday as investors reeled from a record weekly surge in U.S. crude inventories, and remained sceptical about whether OPEC can actually implement its planned output cap. U.S. crude fell 68 cents, or 1.5 percent, to settle at $44.66 per barrel. Traders said energy monitoring service Genscape reported a weekly build of 1.2 million barrels at the U.S. delivery base in Cushing, Oklahoma.