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Oil prices dropped on Wednesday owing to surging US output and sign of shrinkage in China’s factory activity. This slowdown in China’s factory activity has occurred for the first time in 19 months. Brent slipped by 0.6% and was traded at $53.47 per barrel. WTI went down by 0.2% and was traded at $45.32 per barrel. Analysts say that the outlook for 2019 is riddled with uncertainty.