Oil may fall to $US45-$US55: OPEC

OPEC expected world oil prices to stabilise in a range of $US45-$US55 a barrel next year and had ample spare capacity to meet demand, acting Secretary-General Adnan Shihab-Eldin said overnight.

“Based on fundamentals, prices should not increase. They should moderate below the levels of recent months,” Mr Shihab-Eldin said.