Investing.com – Oil was lower Monday as doubts grew about OPEC’s ability to forge an agreement on a planned cut in output.
U.S. crude was down 24 cents, or 0.49%, at $48.46 at 06:45 ET, while Brent crude lost 0.45% to $50.45.
OPEC experts met Friday without reaching a deal on quotas for member countries.
Iran and Iraq have said they do not want to take part in production curbs.
Non-OPEC members such as Russia on Saturday made no concrete pledges to back any OPEC deal.
OPEC is due to hold a formal meeting in Vienna on November 30.
The dollar index was higher. A stronger dollar undermines demand for oil.