Oil dips on oversupply concerns and stronger dollar

Oil dips on oversupply concerns and stronger dollar

LONDON (Reuters) - Oil prices fell on Tuesday, weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts.. Brent crude was down 52 cents, or 1.3%, at $40.28 a barrel by 1340 GMT.. "Healthy price levels can bring unrestricted production back from other countries, such as the United States and Canada .... Also weighing on prices was the resumption of production at Libya's Sharara oilfield..