Oil prices saw a slight downturn during early trading on Monday despite market optimism over the U.S.-China trade deal.
International benchmark Brent crude was trading at $65.68 per barrel at 0625 GMT with a 0.36% down after it closed Friday at $65.92 a barrel.
American benchmark West Texas Intermediate was at $60.13 a barrel at the same time.
The number of oil rigs, an indicator of production in the short term, increased by 18 to reach 685 for the week ending Dec. 20, from 667 during the previous week.
This marked the highest rise in the number of oil rigs in the U.S. since February 2018 and also the first double-digit increase since April this year, according to the latest market data.
Crude oil production in the U.S. fell slightly by 7,000 barrels per day (bpd) for the week ending Dec. 13, according to the country's Energy Information Administration (EIA) data released on Wednesday.
Despite the decline, the world's largest crude oil producer is still pumping near record high levels at 12.8 million bpd.
By Gulsen Cagatay