SINGAPORE: Oil prices bounced back in Asia on Thursday but trading was cautious on signs the Organization of the Petroleum Exporting Countries (OPEC) cartel is divided ahead of a meeting on whether to maintain or slash its high output levels.

The US benchmark West Texas Intermediate closed below $40 a barrel for the first time since late August on Wednesday after data showed an increase in US commercial stockpiles and production, adding to anxiety about a long-running supply glut.

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