UPDATE 10-Oil slides with U.S. stocks as OPEC+ delays output decision

* OPEC+ to hold meeting again Tuesday to decide on Feb
output
* Brent hits highest since March before pullback
* U.S. stocks down on worries over Georgia Senate election
* England enters another lockdown, Germany mulls vaccine
delay

(Adds latest prices)
By Scott DiSavino
NEW YORK, Jan 4 (Reuters) - Oil prices slipped from
multi-month highs to end more than 1% lower on the first trading
day of the year after OPEC+ failed to decide on Monday whether
to increase output in February and agreed to meet again on
Tuesday.
Brent LCOc1 futures settled 71 cents, or 1.4%, lower at
$51.09 a barrel, while U.S. West Texas Intermediate (WTI) crude
CLc1 fell 90 cents, or 1.9%, to settle at $47.62.
Earlier in the session, WTI hit its highest since February
and Brent its highest since March. The premium of Brent over WTI
WTCLc1-LCOc1 reached its highest since May.
The S&P 500 and the Dow also fell from record levels as
President Donald Trump travels to Georgia in a bid to keep the
U.S. Senate in the hands of his Republican Party ahead of
Tuesday's run-off election in the battleground state.
The Organization of the Petroleum Exporting Countries and
allies, known as OPEC+, will resume talks on Tuesday after
reaching a deadlock over February oil output levels as Saudi
Arabia argued against pumping more due to new coronavirus
lockdowns while Russia led calls for higher production citing
recovering demand. "Anything can happen, but Russia may not want to lose face
and capitulate so easily. It looks like we may be in for some
lengthy negotiations," said Bjornar Tonhaugen, head of oil
markets at Rystad Energy.
In Europe, England was set for a new lockdown to try to slow
a surge in COVID-19 cases that threatens to overwhelm parts of
the health system, while Germany was weighing whether to allow a
delay in administering a second dose of the COVID-19 vaccine to
make scarce supplies go further. In the Middle East, meanwhile, the news was mixed.
Oil prices gained some support earlier in the day after
Iran's Revolutionary Guards seized a South Korean-flagged tanker
in Gulf waters and Iran resumed uranium enrichment at an
underground nuclear facility.
But later in the day Kuwait's foreign minister said Saudi
Arabia will reopen its airspace and land and sea border to Qatar
as of Monday as part of a deal seeking to resolve a political
dispute that led Riyadh and its allies to impose a boycott on
Qatar. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
OPEC crude oil production since 2019 https://tmsnrt.rs/3ht2eFs
Oil price forecasts for 2021 https://tmsnrt.rs/2X0iYKE
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