Oil down as U.S. supply grows, OPEC considers higher output

Oil prices fell on Monday as U.S. production hit a record high and OPEC members considered boosting supply. Benchmark Brent crude oil (LCOc1) lost $1.26 a barrel, or 1.6 percent, to a low of $75.53 before recovering to $75.89, down 90 cents, by 1125 GMT. U.S. light crude (CLc1) was 40 cents down at 65.41 a barrel.