Oil prices fall on OPEC compliance jitters

NEW YORK, Aug. 3 (Xinhua) -- Oil prices fell on Thursday as investors were concerned about output rise from the Organization of the Petroleum Exporting Countries offset.

The West Texas Intermediate for September Delivery lost 0.56 dollar to settle at 49.03 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery erased 0.35 dollar to close at 52.01 dollars a barrel on the London ICE Futures Exchange.