Oil rises above $88 as OPEC leaves output stable
Oil prices rose above $88 a barrel Monday in Asia after OPEC left its crude output quotas unchanged, citing slowing demand and abundant supplies.
Benchmark oil for January delivery was up 53 cents to $88.32 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost 58 cents to settle at $87.79 on Friday.
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