Oil dipped on Monday, weighed down by rising U.S. output although a 13 percent fall in U.S. crude inventories since March indicated a gradually tightening market.
Brent crude futures, LCOc1 the international benchmark for oil prices, were at $52.64 per barrel at 0639 GMT, down 8 cents, or 0.2 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $48.47 a barrel, down 4 cents, or 0.1 percent.
