Oil prices dip on weak Chinese refining activity
Oil prices dipped on Monday as a slowdown in Chinese refining activity growth cast doubts over its crude demand outlook, while rising U.S. shale output suggested supplies would likely remain high. Brent crude futures, the international benchmark for oil prices, were at $51.94 per barrel at 0253 GMT, down 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $48.74 a barrel, down 8 cents, or 0.2 percent.
