05-01-2017 03:27 via uk.news.yahoo.com

Oil dips on doubts over touted production cuts

By Henning Gloystein SINGAPORE (Reuters) - Oil prices dipped on Thursday on doubts producers would fully deliver on promises to cut output, although record U.S. automobile sales and falling crude stocks offered markets some support. Brent crude futures , the international benchmark for oil prices, were trading at $56.28 per barrel at 0150 GMT, down 18 cents from their last close. Traders said the decline came on the back of worries that plans by the Organization of the Petroleum Exporting Countr
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