Oil keeps losses after OPEC raises output

Oil prices fell on Monday after a survey revealed an increase in OPEC output during this month, which sparked oversupply concerns and weighed down on prices.

A survey by Reuters showed that the production of OPEC member states rose about 750,000 barrels per day during the past month.

Reuters quoted sources that OPEC and its independent allies, known as OPEC-Plus, are discussing extending the global output cut agreement for another four months.

The dollar index rose against a basket of major currencies by 0.1% to 91.8 points as of 17:43 GMT, after hitting a high of 91.9 points and a low of 91.5 points.

As of 17:41 GMT, WTI crude December futures fell 1.5% to $44.8 a barrel, after hitting a high of $45.8 and a low of $44.4.

Brent January futures fell 1.4% to $47.4 a barrel, after hitting a high of $47.9 and a low of $46.8.