WTI crude oil prices were steady at $68.5 a barrel on Monday, as investors monitored positive economic data from China, and awaited the upcoming OPEC+ meeting. Chinese factory activity grew for a second month and at the fastest pace in five months in November, signaling a recovery in the world's largest oil importer after a series of stimulus measures introduced in late September. At the same time, Saudi Arabia, is anticipated to lower crude prices for Asian buyers in January to a four-year low.

Attention also remains on the delayed OPEC+ meeting, rescheduled for later this week, where the group is widely expected to delay a planned output increase for the third time. Finally, geopolitical tensions in the Middle East continue to inject a risk premium into oil prices. Despite a ceasefire agreement, Israel has resumed attacks on Lebanon while Iran has pledged support to the Syrian government after rebels took control of the country's largest city, Aleppo.

Source: Trading Economics