Oil prices slipped on Thursday as concerns about weak global fuel demand outweighed strong economic growth in China and better-than-expected U.S. banking results.

The Organization of Petroleum Exporting Countries (OPEC) will likely maintain its crude oil production quotas at its meeting in Vienna, Austria today, Thursday.

Dollar firms vs euro; ECB seen cutting rates by 50 bp… Oil slides as demand woes outweigh U.S. stockpile dip… ZKB platinum ETF holdings rise 27 pct

Oil rises above $47 a barrel… U.S. weekly oil stocks data expected to show bearish rises… OPEC compliance to cuts at 66 percent for November

In the energy market Wednesday, crude for June backed off, falling under $125 to close at $124.22/barrel, down $1.58. June reformulated gasoline lost 2 cents, to $3.18/gallon.