Oil prices dip on persistent fuel supply overhang

By Henning Gloystein SINGAPORE (Reuters) - Oil prices dipped on Friday as the market refocused on a persistent fuel supply overhang that is not expected to abate unless OPEC and other producers make a significant cut to their output. International Brent crude oil futures were trading at $45.77 per barrel at 0743 GMT, down 7 cents from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were trading down 10 cents at $44.56 per barrel, weighed down by weakening U.S. demand.