Stocks in Asia were mostly lower on Wednesday as oil prices slipped further into negative territory.
In Japan, the Nikkei 225 regained 35.96 points, or 0.2%, to 22,846.48.
Oil companies were bruised, JXTG shedding 2.6% and Japan Petroleum Exploration declining by 2.1%.
The Japanese yen, which is widely seen as a safe-haven currency, was at 113.88 against the U.S. dollar after touching lows above 114 in the previous session
In Hong Kong, the Hang Seng Index lost 138.44 points, or 0.5%, to 25,654.43
Saudi Arabia's Energy Minister Khalid al-Falih had said on Monday that the Organization of the Petroleum Exporting Countries agreed there was a need to cut oil supply next year by around one million barrels per day from October levels.
South Korean oil stocks also declined: S-Oil declined 5.3% and SK Innovation was down 3.3%
Australian oil stocks saw broad declines on Wednesday, with Santos falling 5%, Woodside Petroleum down 2.5% and Beach Energy dropping 5%.
The Australian dollar traded at $0.7215 U.S. after rising from around the $0.717 handle yesterday.
CHINA
In Shanghai, the CSI 300 dropped 32.44 points, or 1%, to 3,204.94, with shares of Petrochina declining 2.7% while China Petroleum saw losses of 3.4%.
The country reported industrial output for October was 5.9% higher than a year ago, higher than expectations. Fixed asset investment for October also came in above expectations at 5.7% higher as compared to a year ago. Retail sales in October, however, came in below expectations at 8.6% higher year-on-year.
In other markets
In Taiwan, the Taiex index regrouped 16.04 points, or 0.2%, to 9,791.88
In Korea, the Kospi index slipped 3.18 points, or 0.2%, at 2,068.05
In Singapore, the Straits Times Index slid 10.41 points, or 0.3%, to 3,043.19
In New Zealand, the NZX 50 lost 33.78 points, or 0.2%, to 8,827.74
In Australia, the ASX 200 stumbled 101.46 points, or 1.7%, to 5,732.77
