Oil markets were lukewarm in Asian trade Tuesday as investors remained on the sidelines ahead of the all-important meeting of the Organisation of the Petroleum Exporting Countries later this week. On the New York Mercantile Exchange, light, sweet crude futures for delivery in July traded at $60.20 a barrel at 0313 GMT, unchanged in the Globex electronic session. July Brent crude on London’s ICE Futures exchange fell $0.06 to $64.82 a barrel. The market consensus is largely that OPEC will not change its stance at its June 5 meeting and maintain an oil production ceiling of 30 million barrels a day, as producers like Saudi Arabia choose to their defend market share. The Saudi strategy of defending oil-market share over price is working, its oil minister Ali al-Naimi said on Monday as he arrived in Vienna for the OPEC meeting. Mr. Naimi, a key figure in […]