Oil prices tumble 2% as OPEC+ members argue over 2021 policy | Reuters
Crude oil prices tumbled on Monday, as investors waited for a decision by producer group OPEC+ whether to extend large output cuts to balance global markets, but vaccine hopes helped keep benchmarks on track to rise more than a fifth in November.
January Brent crude futures, which will expire later on Monday, dropped $1.01, or 2.1%, to $47.17 a barrel by 0749 GMT. The more actively traded February Brent contract was at $47.29 a barrel, down 96 cents.
U.S. West Texas Intermediate crude futures for January fell 86 cents, or 1.9%, to $44.67 a barrel.
However, both benchmarks are still set for a rise of more than 20% in November, the strongest monthly gains since May, boosted by hopes for three promising coronavirus vaccines to limit spread of the disease and thus support fuel demand.
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