SINGAPORE: Oil tumbled to new multi-year lows in Asia on Monday, extending a sharp sell-off last week in response to Organization of Petroleum Exporting Countries (OPEC’s) decision to maintain output despite a supply glut and plunging prices.

US benchmark West Texas Intermediate (WTI) for January delivery dipped $1.65 in afternoon Asian trading to $64.50, its lowest intraday level since July 2009.

Premium + Digital Edition

Ad-free access


P 80 per month
(billed annually at P 960)
  • Unlimited ad-free access to website articles
  • Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)

TRY FREE FOR 14 DAYS
See details
See details