Oil futures slip ahead of closely watched OPEC meeting

Oil futures drifted lower Monday after the deadline for talks over Iran’s nuclear programs was extended and investors debated whether the Organization of the Petroleum Exporting Countries will move to alleviate a global supply glut by cutting production.

Light, sweet crude for January delivery CLF5, +0.04%  fell 73 cents, or 1%, to settle at $75.78 a barrel on the New York Mercantile Exchange. That put a stop to a two-session winning streak.