Oil weakened in Asian trade today on profit-taking after overnight gains driven by OPEC's decision to maintain its existing output targets.New York's main contract, light sweet crude was off 15 cents to 88.46 dollars a barrel and Brent North Sea crude sank 17 cents to 91.02 dollars.Analysts said the price decline is seen as a temporary blip with oil on track to hit 100 dollars amid strong demand especially from China, the world's top energy consumer.
News On AIR | December 14, 2010 12:32 PM
Oil prices decline in Asian trade today