Sri Lanka, Sept. 29 -- Oil prices fell by more than 1 per cent on Monday as OPEC+ plans for another increase to oil output in November and the resumption of oil exports by Iraq's Kurdistan region via Turkey raised the global supply outlook.

Brent crude futures dropped $1.01, or 1.4 per cent, to $69.12 a barrel by 1019 GMT after settling at their highest since July 31 on Friday. U.S. West Texas Intermediate crude was down $1.11, or 1.7 per cent, at $64.61.

The Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, is likely to approve another increase to crude oil production at its meeting on Sunday.

The group is expected to confirm an increase of at least 137,000 barrels per day for November as risin...