Oil prices fell on Monday as traders factored in an expected 1 million barrels per day (bpd) output increase in the wake of an Organization of the Petroleum Exporting Countries (OPEC) meeting in Vienna last week. Despite this, analysts said global oil markets would likely remain relatively tight this year. Brent crude futures LCOc1 were at $74.25 per barrel at 0636 GMT, down 1.7 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $68.42 a barrel, down 0.2 percent, supported more than Brent by a slight drop in U.S. drilling activity and a Canadian supply outage. Prices initially jumped after an OPEC deal to increase output was announced late last week as it was not seen boosting supply by as much as some had […]