Nigeria, May 5 -- Global oil prices took a steep hit in early Asian trading on Monday, falling to their lowest levels in nearly a month, as OPEC+ signaled a more aggressive approach to ramping up oil production.

The move has stirred anxiety across global energy markets, with investors increasingly wary of a supply glut when demand growth remains shaky due to macroeconomic uncertainty and trade tensions.

The international oil benchmark of Brent crude dropped by $2.21 or 3.61%, bringing the price down to $59.08 per barrel. U.S. West Texas Intermediate (WTI) crude followed suit, falling by $2.29 or 3.93% to settle at $56.00 per barrel. Both benchmarks reached their lowest points since April 9, reacting swiftly to the latest decision by the...