Oil sinks further as OPEC and Russia look to raise output | Reuters

Oil sinks further as OPEC and Russia look to raise output | Reuters:

"Oil prices extended losses on Monday as Saudi Arabia and Russia said they may increase supplies while U.S. production gains show no signs of slowing.

Brent crude futures LCOc1 stood at $75.35 a barrel at 0913 GMT, down $1.09 from the previous close and after touching a three-week low of $74.49 earlier in the session.

 U.S. West Texas Intermediate (WTI) crude futures were at $66.69, down $1.19, after hitting a six-week low of $65.80.

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