Oil prices fell to their lowest in a week on Monday after OPEC+ agreed to another large output increase in September, though traders remained wary of further sanctions on Russia. Brent crude futures fell $1.

Eight producers, led by Saudi Arabia, will continue boosting production despite forecasts that supply will soon exceed demand.

Primary oil processing at Russia's Novokuibyshevsk refinery, which is operated by the Rosneft oil company, has been halted since August 2 following a Ukrainian drone attack last week, two industry sources said.

More than 120 firefighters were trying to extinguish a blaze at an oil depot in the Russian city of Sochi that was sparked by a Ukrainian drone attack, regional Governor Veniamin Kondratyev said early on Sunday on the Telegram messaging app.