Oil futures dipped on Monday as a higher U.S. rig count indicated rising shale output and stoked worries about global oversupply, while a stronger dollar also pressured prices. International benchmark Brent futures had slipped 7 cents to $53.46 a barrel by 0207 GMT. The March contract closed the previous session down 13 cents at $52.83 a barrel. U.S. West Texas Intermediate crude futures fell 3 cents to $50.57 a barrel after settling 25 cents higher in the previous session.

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