New York's main futures contract, light sweet crude for April, leapt 1.10 dollars to close at 47.35 dollars a barrel.
In London, Brent North Sea crude for delivery in April shed 95 cents from Friday's close to settle at 43.98 dollars a barrel.
OPEC, which pumps about 40 percent of world crude, said it was delaying a move to slash output until at least May to give the Group of 20 developed and developing nations time to respond to the economic crisis.
G20 leaders are to meet on April 2 in London to discuss tackling the global slowdown.
Author: Ksenia Kochneva
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Oil Prices Confused By OPEC's Decision
After OPEC decided to leave output steady in the face of a deepening global economic crisis, the world oil prices diferentiated
