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LONDON, Nov 15 Reuters Oil prices dipped on Wednesday due to expectations of an increase in U.S. crude stocks amid record high output in the world39;s biggest producer and despite positive demand signs from top consumer China.

Brent futures were down 69 cents to 81.78 a barrel at 1346 GMT, while U.S. West Texas Intermediate WTI crude was down 78 cents to 77.48.

In signs of healthy U.S. crude supply, American Petroleum Institute figures on Tuesday showed rising crude oil and gasoline inventories last week, according to market sources.

The U.S. Energy Information Administration EIA will also release on Wednesday its first oil inventory report in two weeks, after a delay last week due to a systems upgrade.

In good news for demand, China39;s economic activity perked up in October as industrial output increased at a faster pace and retail sales growth beat expectations, an encouraging sign for the world39;s secondlargest economy.

The International Energy Agency joined the Organization of the Petroleum Exporting Countries and its allies OPEC in raising oil demand growth forecasts for this year, despite projections of slower economic growth in many major countries.

With China being a scapegoat for much of the world39;s lack of industrial demand, this glimmer of light ought to aid oil39;s progress but the reluctance is so far winning out,…