Oil prices fell in early Asian trading on Monday, affected by sufficient supply, despite market concerns that political turmoil in OPEC member Venezuela would disrupt oil transportation. Brent crude futures fell 34 cents to $60.41 a barrel; the US West Texas Intermediate crude was reported at $56.91 per barrel, down 41 cents. The US abducted Venezuelan President Nicolas Maduro from Caracas over the weekend. US President Trump said Washington would control Venezuela. Two sources familiar with the operation of CNPC said over the weekend that the US operation to arrest Maduro did not cause any damage to the Venezuelan oil production and refining industry. OPEC+ held its monthly meeting on Sunday and decided to keep production unchanged. Analysts said that the global market has sufficient oil supply, which means that further disruptions in Venezuelan exports will not have a direct impact on prices.

Oil prices fell in early Asian trading on Monday, affected by sufficient supply, despite market concerns that political turmoil in OPEC member Venezuela would disrupt oil transportation. Brent crude futures fell 34 cents to $60.41 a barrel; the US West Texas Intermediate crude was reported at $56.91 per barrel, down 41 cents. The US abducted Venezuelan President Nicolas Maduro from Caracas over the weekend. US President Trump said Washington would control Venezuela. Two sources familiar with the operation of CNPC said over the weekend that the US operation to arrest Maduro did not cause any damage to the Venezuelan oil production and refining industry. OPEC+ held its monthly meeting on Sunday and decided to keep production unchanged. Analysts said that the global market has sufficient oil supply, which means that further disruptions in Venezuelan exports will not have a direct impact on prices.