Oil prices slipped in Asian trade on Monday on a strong dollar and signs that global crude supply is holding up even as volumes hit by unplanned outages rise to at least five-year highs.

 Brent futures were down 18 cents at $48.54 a barrel as of 0421 GMT, after ending the previous session 9 cents down.

U.S. crude futures fell 26 cents to $48.15 a barrel, having settled down 41 cents in the previous session. U.S. crude rose 3.3 percent last week, while Brent was up 1.7%, as unplanned supply outages rose to the highest since at least 2011 due to wildfires in Canada and losses in Nigeria, Libya and Venezuela.

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U.S. and OPEC supply meant it lowered its forecasts for 2017, with an average of $55 per barrel for Brent, from $60 previously, and $53 per barrel for WTI, against $58 earlier.