Oil slips $1 on concerns U.S. production is rising

By Karolin Schaps LONDON (Reuters) - Oil fell by $1 a barrel on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market. A stronger U.S. dollar also weighed as the currency surge made it more expensive to hold dollar-denominated commodities. U.S. crude futures were trading at $52.99 per barrel, down $1, or 1.85 percent.