Crude prices declined below 60 U.S. dollars a barrel on Monday morning on forecasts of warmer weather in the United States.

As of 11:00 a.m., light sweet crude for April delivery dropped 90 cents to 59.03 dollars a barrel in the New York Mercantile Exchange.

The expectation that the Organization of Petroleum Exporting Countries will not change its output target when they meet on Thursday in Vienna, Austria, also dragged down the prices.

The cartel reduced output by 500,000 barrels per day from Feb. 1 after a 1.2-million-barrel cut in November.

Source: Xinhua