Oil falls over $1 in Asia

SINGAPORE: Oil fell more than a dollar on Monday, towards $53 a barrel, after producer cartel OPEC decided to delay a decision on a third supply cut to its next meeting later in December as economic woes cripple oil demand. Gulf producers want to see strict compliance with recent output curbs of 2 million barrels per day (bpd) before considering further cuts when the Organization of the Petroleum Exporting Countries (OPEC) meets in Algeria on Dec.