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Oil falls about 1% on fears of an impending recession after OPEC cuts
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Oil prices fell nearly 1% on Monday, amid fears of a looming recession over supply disruptions from OPEC production cuts and US sanctions on Iran and Venezuela.
Brent crude futures were $ 66.73 a barrel, down 30 cents, or 0.5 percent, from their recent close.
WTI futures in the US were $ 58.61 a barrel, down 43 cents, or 0.7 percent, from the previous level.
Crude oil prices have fallen more than 3% since last week, reaching their highest level since November 2018.
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