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MARKET WATCH: NYMEX oil briefly slips below $50/bbl

The light, sweet crude oil price for January delivery briefly slipped below $50/bbl during Nov. 29 trading, but it bounced to $51.45/bbl by closing, up $1.16. The day’s low was $49.53/bbl compared with the day’s high of $52.50/bbl. OPEC and some non-OPEC producers, led by Russia, will discuss production levels during a G20 meeting in Argentina Nov. 30-Dec. 1 in preparation for a Dec. 6-7 OPEC meeting in Vienna.

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