Brent crude fell close to $60 a barrel as the United Arab Emirates said OPEC will resist output cuts even if prices slump as low as $40. West Texas Intermediate extended its slump from the lowest in more than five years. Futures slid as much as 2.5 percent in London and 2.7 percent in New York . The market will stabilize itself and the Organization of Petroleum Exporting Countries will wait at least three months before considering an emergency meeting, U.A.E Energy Minister Suhail Al-Mazrouei said. The International Energy Agency cut its 2015 demand forecast by 230,000 barrels a day last week, trimming the estimate for the fourth time in five months. Oil has lost more than 20 percent since OPEC decided at a meeting in Vienna last month to maintain its production target, resisting calls from members including Venezuela to cut output. Drillers in the U.S., pumping crude […]