NEW YORK, Dec. 3 (Xinhua) -- Crude prices rebounded Monday as the Organization of Petroleum Exporting Countries (OPEC) gave mixed signal on output hike ahead of the cartel's meeting due on Wednesday.
Crude prices have dropped more than 10 percent from the peak of 99.29 dollars a barrel on the belief that the OPEC would boost production.
OPEC comments about production increases have been divided, with ministers from Venezuela and Qatar suggesting there's no need to boost supplies, while ministers from Indonesia, Nigeria and Kuwait saying they're still open to increases.
Light, sweet crude for January delivery rose 60 cents to 89.31 dollars a barrel on the New York Mercantile Exchange.
In London, January Brent crude rose 1.54 dollars to 89.80 dollars a barrel on the ICE Futures exchange.
Crude prices have dropped more than 10 percent from the peak of 99.29 dollars a barrel on the belief that the OPEC would boost production.
OPEC comments about production increases have been divided, with ministers from Venezuela and Qatar suggesting there's no need to boost supplies, while ministers from Indonesia, Nigeria and Kuwait saying they're still open to increases.
Light, sweet crude for January delivery rose 60 cents to 89.31 dollars a barrel on the New York Mercantile Exchange.
In London, January Brent crude rose 1.54 dollars to 89.80 dollars a barrel on the ICE Futures exchange.
