Oil prices squeezed by economy concerns, but OPEC output cuts provide support
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SINGAPORE (Reuters) - Oil markets were cautious early on Friday, held back by concerns over a global economic slowdown but supported by supply cuts led by producer club OPEC and U.S. sanctions against Venezuela.U.S. West Texas Intermediate (WTI) crude futures were at $52.61 per barrel at 0046 GMT, down 3 cents from their last settlement. WTI dropped by around 2.5 percent the previous session.International Brent crude oil futures had yet to trade.Weighing on financial markets, including crude oil..