International benchmark Brent crude traded at $61.30 per barrel, while American benchmark West Texas Intermediate (WTI) amounted to $53.06 at 06.56 GMT on Monday.
The U.S.' crude oil production increased by 97,000 barrels per day (bpd) to the record high level of 12.3 million bpd (mbpd) for the week ending May 24, the EIA data showed last week.
This level of crude production was last seen in the U.S. during the week ending April 26, according to EIA data.
In addition, the number of oil rigs in the U.S. increased to 800 in the week ending May 31, up by 3 over the previous week, according to data released by oilfield services company Baker Hughes on Friday.
The rise in weekly oil rig count, together with U.S. President Donald Trump's threats on Thursday to impose a 5 percent tariff on Mexican imports starting on June 10, pushed oil prices further down.
Brent closed Friday at $62.75 per barrel, marking a 4.86 percent fall over Thursday's closing price of $65.96. WTI Intermediate was also down on Friday, closing at $53.24 a barrel versus $56.31 on the previous day.
Trump also threatened to increase the tariffs on all Mexican imports by another 5 percent each month for three months, up to 25 percent "unless and until Mexico substantially stops the illegal inflow of aliens coming through its territory".
By Gulsen Cagatay