HONG KONG, May 5, (AP): Global shares were mixed in holiday-thinned trading Monday, while oil prices fell after the OPEC+ group of oil producing nations said it plans to boost output. Markets were closed in Britain and much of Asia. The future for the S&P 500 slid 0.6% while that for the Dow Jones Industrial Average lost 0.5%. Germany's DAX gained 0.4% to 23,181.61 and the CAC 40 in Paris slipped 0.4% to 7,737.21.

US benchmark crude oil fell as much as 4% early in the day. By late Monday in Asia it had shed $1.15 or 2% to $57.14 per barrel. Brent crude, the international standard, lost $1.14 to $60.15 per barrel. During the weekend, the OPEC+ group of eight nations announced it will raise its output by 411,000 barrels per day as of June 1, stepping up production increases.

The group said strong fundamentals were behind the decision, though analysts also speculated that it might reflect a desire to curry favor with U.S. President Donald Trump before he makes a visit to the Middle East later this month. Prices have fallen nearly 20% in the past three months as traders have factored in the likely impact of Trump's trade policies on the global economy.

Trump has made delivering lower gas prices one of his talking points. "Washington wants cheap energy, and Gulf producers still lean on US security guarantees; the White House bears down, they listen,” Stephen Innes of SPI Asset Management said in a commentary. "In that sense the US  president has become an unofficial swing vote inside OPEC+,” he said.

US crude oil is down about 17% for the year. According to AAA, gasoline is selling for an average of about $3.17 per gallon, down from $3.66 per gallon a year ago. But prices are falling to a point where many producers can no longer turn a profit. Most markets in Asia were closed. Australia's S&P/ASX 200 lost 1% to 8,157.80 while Taiwan's Taiex declined 1.2%.

The US dollar slipped to 144.15 Japanese yen from 144.71 yen. The euro climbed to $1.1329 from 1.1306. On Friday, Wall Street extended its gains to a ninth straight day, the market’s longest winning streak since 2004. It has reclaiming much of the ground it lost after President Donald Trump escalated his trade war in early April. The rally was spurred by a better-than-expected report on the US job market and revived hopes that Washington will tone down its trade tensions with China.