UPDATE 10-Oil slumps on oversupply fears, trade talk concerns

* Russia unlikely to deepen oil output cuts -sources
* Slow progress on U.S.-China negotiations a concern
* Norway's October oil production beats forecast
* U.S. crude inventories seen building for a fourth week
* U.S. crude oil stocks rise 6 mln bbls -API

(Updates with API data)
By Stephanie Kelly
NEW YORK, Nov 19 (Reuters) - Oil fell more than $1 a barrel
on Tuesday on concerns about excess global crude supply and
limited progress toward resolving the U.S.-China trade dispute
that has clouded the outlook for oil demand.
Brent crude LCOc1 futures fell $1.53, or 2.5%, to settle
at $60.91 a barrel. U.S. West Texas Intermediate (WTI) crude
CLc1 futures lost $1.84, or 3.2%, to settle at $55.21 a
barrel.
Brent has rallied about 15% this year, supported by a pact
by the Organization of the Petroleum Exporting Countries and its
allies, including Russia - a group known as OPEC+ - to cut
combined oil output by 1.2 million barrels per day from Jan. 1.
Russia is unlikely to agree to deepen cuts in oil output at
a meeting with fellow exporters next month but could commit to
extend existing curbs to support Saudi Arabia, three sources
said. OPEC and its allies will consider whether to deepen cuts to
crude supply when they next meet in December due to worries
about weak demand growth in 2020, sources from the oil-producing
club said. "We expect uneasy talks in December. Russia will not
categorically agree to (deepen) cuts in winter," a source
familiar with the matter said.
The news on Russia's stance sent oil prices lower as
investors worried about potential oversupply. But Jim
Ritterbusch, president of Ritterbusch and Associates, was
dismissive of supply concerns.
"We will reiterate that Brent pricing at or below the $60
mark will be increasing the odds of an additional reduction in
production out of the upcoming OPEC talks capable of erasing
what appears to be a modest supply surplus," Ritterbusch said.
Further weighing on prices, a Chinese government source was
quoted by CNBC on Monday as saying there was gloom in Beijing
about prospects for a trade deal. The long-running dispute has
hit economic growth prospects.
"The less than promising reports coming from China on the
trade war may have taken some of the energy out of the rally,"
said Craig Erlam, analyst at brokerage OANDA.
"We're certainly seeing less momentum in the recent
rallies."
Oil prices were also hit by a larger-than-expected rise in
Norwegian oil production and the prospect of a further increase
in U.S. crude inventories, suggesting ample supplies.
Norway's production rose in October to beat the official
forecast as output from the Johan Sverdrup field began ahead of
schedule. This is the largest field to come on stream in the
North Sea - home of the Brent contract - for years.
Prices extended losses in post-settlement trade after
industry data showed a larger-than-expected rise in U.S. crude
stockpiles. Crude inventories rose by 6 million barrels in the
week to Nov. 15 to 445.9 million, data from industry group the
American Petroleum Institute showed on Tuesday. Official U.S. government data is due on Wednesday.
Oil found some support from tension in the Middle East, home
to top exporter Saudi Arabia and other core OPEC members.
Protesters in Iraq blocked a commodities port on Tuesday.