Oil ends lower on U.S. trade spike; shale decline limits losses

By Ethan Lou NEW YORK (Reuters) - Oil prices settled down on Monday, weighed by oversupply concerns, with a spike in trade volume driving U.S prices below $50, but losses were limited amid a projected drop in American shale output. Prices rose slightly in the afternoon, as U.S. Energy Information Administration (EIA) showed shale oil production was expected to fall by 30,000 barrels per day (bdp) in November. International benchmark Brent crude fell 43 cents, or 0.8 percent, from the last settle