US Oil Prices Dip On Rising Crude Inventories, Record Output

US oil prices dipped on Thursday after US crude inventories rose and as production levels in the country stayed at record levels, but OPEC-led supply cuts and the crisis in Venezuela supported markets. 

US West Texas Intermediate (WTI) crude futures were at $53.82 per barrel at 0036 GMT, down 19 cents, or 0.35 per cent, from their last settlement. 

International Brent crude oil futures had yet to trade. 

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