Ahead of OPEC meeting, oil prices trade below US$42 in Asia

Just prior to an OPEC meeting on December 4, oil prices traded below US$42 in Asia amid release of data on China's important manufacturing sector later in the week. The market awaits possible decision by OPEC to slash currently high output levels and ease a crude supply glut that has depressed prices for over a year. November data on China’s industrial sector is scheduled for release and will offer an insight into the health of the world’s top energy consumer.
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