Oil prices dipped on Monday as a slowdown in Chinese refining activity growth cast doubts over its crude demand outlook, while rising U.S. shale output suggested supplies would likely remain high. Brent crude futures, the international benchmark for oil prices, were at $51.94 per barrel at 0253 GMT, down 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $48.74 a barrel, down 8 cents, or 0.2 percent.

Chinese refineries processed 0.4 percent more crude oil in July than a year earlier at 45.5 million tonnes, or about 10.71 million barrels per day (bpd), data from the National Bureau of Statistics showed on Monday. This would be the lowest amount on a daily basis since September 2016, according to Ripples Advisory calculations based on official data.

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