By Mahmoud Gamal
Mubasher: Oil prices declined in Monday's early trading to tick the lowest mark in a month amid concerns over limiting output levels by major oil producers.
By 4:15am GMT, Brent crude futures were lower 0.41% to $50.47 per barrel, while US Crude Oil WTI (CL) futures were placed at $48.49 a barrel with 0.43% slide.
This decline is driven by a wave of profit-taking started after after non-OPEC producers have taken no actual steps to join OPEC in limiting oil output during Vienna's meeting on Saturday, said commodity analyst Zamel Al-Otaibi, indicating that any internal disagreement on long-waited OPEC deal will put an end to a rebound of oil prices that fell 60% in the past two years.
