Oil falls more than 2 percent on signs of higher output:
"Oil fell more than $1 a barrel to below $56 on Monday as a rise in U.S. drilling and higher OPEC output put the brakes on a rally that helped prices to register their biggest third-quarter gain in 13 years.
Iraq announced its exports rose slightly in September while OPEC overall boosted output, a Reuters survey showed. [OPEC/M]
In its report on Friday, General Electric Co’s Baker Hughes energy services firm said drillers added six oil rigs in the week to Sept. 29, bringing the total count up to 750."
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