Crude prices edged lower Monday as investors weighed growing U.S. output against cutbacks by major oil producers. U.S. crude for March delivery fell 54 cents, or 1%, to $52.63 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 29 cents, or 0.5%, to $55.23 a barrel on London’s ICE Futures Exchange. In recent weeks, oil has been batted back and forth within a narrow range, as indications that members…