Oil heads for four-year low on Saudi output signal

Brent crude oil fell below $88 a barrel on Monday, its lowest in almost four years, after key Middle East producers signalled they would keep output high to defend market share even if that meant lower prices. Saudi Arabia has privately told oil market participants it can accept oil prices between $80 and $90 a barrel, sources briefed by OPEC's biggest producer have told Reuters. "In light of …