Oil prices dipped on Thursday on profit taking after markets rallied the previous day due to a draw in U.S. stocks and an expectation of an OPEC-led cut in production. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $51.38 per barrel at 0238 GMT, down 22 cents from their last close. International Brent crude futures were trading at $52.56 per barrel, down 11 cents. Traders said that the price dips were a result of profit taking following a rally the previous day, which saw WTI settle at a 15-month high, fueled by a reduction in U.S. crude stocks by 5.2 million barrels in the week ended Oct. 14 to 468.7 million barrels. “Oil prices continued to rise overnight on optimism over OPEC supply restraint and weaker-than-expected inventories,” […]