Oil Dips On Dollar, Rig Count Rise; Focus Still On OPE

NEW YORK, Oct 14 (Reuters) - Oil prices fell slightly on Friday as traders balanced a stronger dollar and another increase in the U.S. oil rig count against expectations that more OPEC talk of output cuts will keep crude above $50 per barrel.

The dollar posted its best weekly performance in more than seven months against a basket of currencies, weighing on prices of greenback-denominated commodities, including crude oil.

A closely watched report by oil services provider Baker Hughes, meanwhile, showed U.S. drillers added four rigs in the week to Oct. 14. It was the 16th week in a row that oil drillers had gone without making cuts, indicating more production to come

http://www.downstreamtoday.com/news/article.aspx?a_id=53911