Oil prices fell on Wednesday following a reported rise in U.S. crude inventories and an estimate that OPEC may have produced more crude in November than previously thought, potentially undermining a planned output cut. 

 U.S. West Texas Intermediate (WTI) crude oil futures were down 69 cents, or 1.3 percent, to $52.29 a barrel at 0101 GMT.

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International Brent crude futures were down 62 cents, or 1.1 percent, at $55.10. Traders said the price falls followed a report of surprise increases in U.S. crude inventories. Markets were also focused on an anticipated U.S. interest rate hike, likely supporting the dollar and making dollar-traded fuel imports more expensive for countries using other currencies at home. 

"Momentum continues to wane in oil markets with both Brent and WTI slightly lower overnight, following higher than expected API inventory numbers in the United States ... (which) showed an unexpectedly large increase of 4.7 million barrels," said Jeffrey Halley, senior market analyst at OANDA brokerage in Singapore.

"We expect Asia trading to have a slightly negative bias as traders trim longs into the Federal Reserves' main event this evening," he added, referring to the expected decision later on Wednesday to hike U.S. interest rates.