Oil falls on doubts output cut will end global glut

By Christopher Johnson LONDON (Reuters) - Oil prices slipped on Wednesday on doubts 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. North Sea Brent crude was down 65 cents a barrel at $53.28 by 1430 GMT. U.S. light crude was down 70 cents at $50.23 a barrel. Oil prices surged almost 20 percent after the Organization of the Petroleum Exporting Countries and Russia announced last week that they would cut