Oil dips, heads for seventh weekly loss as supply glut drags

By Ron Bousso LONDON (Reuters) - Oil prices headed for a seventh straight weekly loss on Friday, slipping back towards $50 a barrel on Friday as key producers show no sign of cutting output in the face of a supply glut. Global oil benchmarks hit their lowest since 2009 this week and are less than half their June levels, with Brent crude futures dropping 67 cents a barrel to $50.29 by 1410 GMT. The contract lost almost 11 percent this week. U.S. crude futures for February delivery were down 31 ce