Oil prices eased on Monday, with investors disappointed at major producers’ decision to maintain their production cuts at the same level, rather than deepening them. Brent crude, the global oil benchmark, fell 0.3% to $52.02 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 0.3% at $49.65 a barrel. Holidays in China, the U.K. and the U.S., mean trading is set to be thin throughout Monday’s session. Crude futures slumped nearly 5% on Thursday after the production-cut deal led by the Organization of the Petroleum Exporting Countries was extended by nine months but not deepened—a let down for investors who anticipated output cuts would be more severe. The market recovered some losses to finish up nearly 2% Friday.