Oil Futures Selloff Continues, NYMEX Light Sweet Crude Jan 2016 Contract Down $0.50 In 40 Minutes & Brent Crude Jan 2016 Contract Down $0.60

BZ NOTE: Declines in oil futures in early afternoon on Monday intensify as OPEC says oil output rose in November led by Iraq & Saudi Arabia. OPEC November output rose 130K BPD MoM To $31.77M BPD according to Reuters. Saudi Arabia output came in at 10.25M BPD in November Vs 10.20M BPD in October.