Crude oil futures continued to collapse Monday morning amid a stronger dollar and after the IEA warned about a worsening supply glut, according to rttnews.

Meanwhile, OPEC's Monthly Oil Market Report revealed daily oil production for the cartel of 33.64 million barrels for October.

That's up by 240,000 bpd from September.

Elsewhere, the IEA predicted a 500,000-barrel increase in oil production outside the cartel for 2017.

WTI light sweet crude oil was down 72 cents at $42.70 a barrel, its lowest since mid-summer.