MARKET WATCH: Brent crude settles below $62/bbl pending OPEC meeting outcome

World News: . []

Light, sweet crude oil for January delivery fell modestly on the New York market to settle below $53/bbl while Brent for February and March fell to settle below $62/bbl Dec. 5 pending a meeting of OPEC in Vienna. The cartel is under pressure after oil prices fell about 30% since early October. Analysts said oil prices tumbled on concerns about rising world oil supplies coupled with concerns about world economic growth—and likely slowing oil demand.

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