OIL PRICES DIPS ON RISING SUPPLY FROM OPEC

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Oil prices dipped on Monday on rising output from OPEC, while looming U.S. sanctions on Iran also remained in focus.

Brent Oil Futures for November delivery fell 0.3% to $77.42 at 12:45AM ET (04:45 GMT), while Crude Oil WTI Futures for October delivery also lost 0.3% to $69.61.

Output from the OPEC rose by 220,000 barrels per day between July and August, according to a Reuters Survey.