Oil slips on rising U.S. inventories, awaits EIA data

By Christopher Johnson LONDON (Reuters) - Oil prices fell on Wednesday after builds in U.S. inventories reinforced expectations that increasing shale output this year would reduce the impact of production cuts by OPEC and other major exporters. Benchmark Brent crude was down 1 percent or 54 cents a barrel at $54.90 by 1024 GMT. U.S. light crude was down 52 cents at $52.66.