Oil Falls On Rising US Inventories, OPEC Talk Of Cut Limits Loss

Oil prices dipped on Nov. 22 after U.S. inventories swelled to their highest level since December adding to concerns about a global crude glut but OPEC talk of an output cut limited losses.

Benchmark Brent had fallen 10 cents to $63.32 a barrel by 1447 GMT, partially recovering from a more than $1 drop in early European trading. U.S. WTI fell more than a $1 before easing back to trade down 28 cents at $54.35.

Trading was thin due to the Thanksgiving holiday in the United States.