Oil markets dipped on Tuesday as China’s economic growth for 2014 undershot a government target and hit its weakest annual expansion in 24 years, adding to worries in energy markets already suffering from slowing demand and oversupply. The world’s second-largest economy grew 7.4 percent last year, China’s National Bureau of Statistics said, less than the target of 7.5 percent. Brent crude was trading at $48.80 per barrel at 11.03 p.m. ET, down just four cents since their last settlement, while U.S. crude was trading down $1.24 at $47.45 a barrel.