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Oil falls on high US production, despite strong demand signals
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Oil prices dipped on Wednesday due to expectations of an increase in U.S. crude stocks amid record high output in the world's biggest producer and despite positive demand signs from top consumer China.
Brent futures were down 69 cents to $81.78 a barrel at 1346 GMT, while U.S.
West Texas Intermediate (WTI) crude was down 78 cents to $77.48.
In signs of healthy U.S. crude supply, American Petroleum Institute figures on Tuesday showed rising crude oil and gasoline inventories last week, according to market sources.
The U.S.
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