Crude oil futures were lower during mid-morning trade in Asia Nov. 30 amid profit-taking activity as the market grew anxious ahead of the OPEC and non-OPEC Ministerial Meeting due to signs of discord in the alliance over the extension of production cuts. At 10:48 am Singapore time (0248 GMT), the ICE Brent January contract was down 37 cents/b (0.77%) from the Nov. 27 settle at $47.81/b, while the January NYMEX light sweet crude contract was down 44 cents/b (0.97%) at $45.09/b. The contracts had risen 7.16% and 7.33% respectively in the week ended Nov. 27 in a rally driven primarily by vaccine momentum following reports of promising developments with the Oxford-AstraZeneca vaccine, and the easing political uncertainty in the US due to the start of President-elect Joe Biden’s transition process and […]