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Oil prices slipped below $59 on Monday as high fuel stocks in consumer countries blunted the impact of a new attack on Nigerian oil facilities.

Doubts over OPEC's determination to push through output cuts also weighed. Investors took little notice of OPEC President Edmund Daukoru saying more reductions could follow in December.

U.S. crude was down 16 cents at $58.98 a barrel by 1132 GMT. Prices ended $1.26 higher on Friday after the U.S. consulate in Nigeria said militants may have imminent plans to launch attacks on oil facilities in the Niger Delta.

London Brent crude was 10 cents down at $59.05.

The market has traded between $57-$62 for a month.

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