CAPE TOWN (Reuters) - Volatile oil prices have reached a floor of between $50-$60 and OPEC is unlikely to announce major cuts in September, a senior IEA oil analyst said on Wednesday. Oil slid below $67 a barrel on Wednesday, extending losses from the more than $1 retreat the day before, on renewed concerns over the U.S. economy after a drop in consumer confidence and bearish API crude data. "The evidence so far suggests that prices have probably reached a floor which maybe around $50 to $60," Eduardo Lopez, a senior oil demand analyst at the International Energy Agency told Reuters on the sidelines of an oil and gas conference. "So, unless something dramatic were to happen, its plausible...prices will remain again at around that level, of course with probably a lot of volatility," he said. | 
