Oil Drops as OPEC+ Boosts Supply Even Though Demand is Shaky

OIL PRICE - HOUSTON. Oil prices fell more than $1 a barrel on Tuesday on scepticism about an OPEC+ decision to boost supply later this year into a global market where demand has already shown signs of weakness.

Extending losses from a four-month low reached on Monday, Brent crude futures settled down 84 cents, or 1.07%, at $77.52 a barrel. Brent's closing price on Monday was below $80 for the first time since Feb. 7 after falling more than 3%.