Oil down on record U.S. crude stocks, flat Russian output

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Oil prices fell on Thursday after U.S. crude stocks hit an all-time high and official data showed Russian oil production unchanged in February, with no further cuts to tighten the market and drain global oversupply.

Benchmark Brent crude oil was down 50 cents a barrel at $55.86 by 1015 GMT. U.S. light crude was 45 cents lower at $53.38.

Crude inventories in the United States, the world's biggest oil consumer, rose by 1.5 million barrels last week to a record 520.2 million barrels, official figures showed. 

U.S. crude looks more bearish, the Reuters analyst said, and could drop to $53.21 a barrel, as it had cleared support at $53.87.