Oil prices fell on Monday, adding to Friday's steep losses as doubts re-emerged over the ability of major producers to agree output cuts at a planned meeting on Wednesday aimed at reining in global oversupply. Brent crude futures fell 2% at one point but regained ground to be trading down 24 cents, or half a percentage point, at $47 per barrel early on Monday. US West Texas Intermediate crude futures also retraced early loses to be down 26 cents, or 0.6%, at $45.80 a barrel. Monday's falls came after prices tumbled more than 3% on Friday on disagreement between Opec and non-Opec crude exporters like Russia over who should cut production by how much in order to curb a global supply overhang that has more than halved prices since 2014.

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