Oil dips on weaker Chinese demand, traders await OPEC+ cuts

LONDON (Reuters) - Oil prices dipped on Monday on weaker Chinese oil demand in the wake of the coronavirus outbreak and as traders waited to see if Russia would join other producers in seeking further output cuts.Oil has dropped more than 20% from a peak in January after the spreading virus hit demand in the world's largest oil importer and fuelled concerns of excess supplies. Brent crude slipped to $54.38 a barrel by 1255 GMT, down 9 cents or 0.2%. U.S. West Texas Intermediate fell 2 cents to..