SINGAPORE: Oil stayed below $40 a barrel in Asia on Monday after the Organization of the Petroleum Exporting Countries (OPEC) cartel decided against slashing high output levels and traders turned their attention on a US central bank meeting next week.
US benchmark West Texas Intermediate for delivery in January was down 33 cents at $39.64 and Brent crude for January was trading 22 cents lower at $42.78 a barrel at around 6:55 a.m. local time.
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