Oil fell on Monday ahead of an OPEC+ supply policy meeting https://www.reuters.com/business/energy/opec-meets-output-increase-oil-prices-rally-2021-10-03 that may decide whether a recent rally in prices can be sustained as the world fitfully recovers from the COVID-19 pandemic.
Brent crude was down 24 cents or 0.3% at $79.04 per barrel by 0143 GMT. It rose 1.5% last week, its fourth weekly gain in a row. U.S. oil dropped by 27 cents or 0.4% to $75.61, after rising for the past six weeks.
Oil prices have risen amid supply disruptions and recovering global demand, pushing Brent last week to an almost three-year high above $80.