Oil inches below $100 in Asia as OPEC weighs slowing global economy ahead of ... - Washington Post (blog)

SINGAPORE — Oil prices inched down below $100 a barrel Wednesday in Asia amid expectations OPEC will likely keep its output quotas unchanged.

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Benchmark crude for January delivery was down 29 cents to $99.85 a barrel in midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $2.37 to settle at $100.14 on Tuesday. The Organization of Petroleum Exporting Countries will meet later Wednesday in Vienna amid a slowing global economy threatened by rising energy costs. The 12-nation group will also seek to avoid a supply glut as Libya’s oil exports gradually recover next year.

Oil inches below $100 in Asia as OPEC weighs slowing global economy ahead of ... - Washington Post (blog)