U.S. oil prices fell to around $56 a barrel after the OPEC Plus cartel said it would bring more oil to market.

Oil prices dropped Monday, as the Organization of the Petroleum Exporting Countries and its allies agreed to boost output again in June, raising concerns about a potential oversupply at a time when markets are grappling with the uncertainties of a global trade war.

DUBAI: The Organisation of Petroleum Exporting Countries (Opec) has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group says,