BUSINESS

Oil Prices Fall On OPEC Talk Of Output Hike

03/28/2008 02:45 am ET | Updated May 25, 2011

Oil prices fell Monday after Saudi Arabia and Kuwait hinted of an OPEC output hike ahead of the cartel's meeting this weekend and investors continued to worry about slowing economic conditions.

New York's main contract, light sweet crude for December delivery, shed 1.70 dollars to close at 94.62 dollars a barrel.

In London, Brent North Sea crude for December delivery slumped 1.20 dollars to settle at 91.98 dollars.

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