Business Insider | UPDATE 8-Oil drops on high OPEC output, firmer dollar Reuters NEW YORK, June 1 (Reuters) - Oil settled down as much as 1 percent on Monday, retreating from Friday's sharp rally on a strong dollar and concern over stubbornly high supplies as OPEC was expected to stick with robust production at its meeting this week. Saudi Arabia's war in Yemen could change OPEC's entire strategy 4 reasons oil will stay this cheap for years Market Fundamentals Make Oil Price Increase Unlikely |