Oil prices decreased on Monday as the rising number of coronavirus cases is negatively affecting expectations of a smooth fuel demand recovery.
International benchmark Brent crude was trading at $42.05 per barrel at 0625 GMT for a 2% drop after closing Friday at $42.92 a barrel.
American benchmark West Texas Intermediate (WTI) was at $39.91 a barrel at the same time for a 0.84% decrease after ending the previous session at $40.25 per barrel.
Monday's price decline was spurred by downbeat sentiment from the rapid spread of the coronavirus pandemic, with the global number of cases reaching over 33 million.
As an indicator of short-term production in the country, the number of US oil rigs rose by four to 183 last week compared to the previous week, signaling greater output and raising oversupply concerns.
OPEC producers Iran and Libya are also exporting more oil, despite attempts by the Organization of Petroleum Exporting Countries and its allies to restrict production.
OPEC Secretary-General Mohammad Barkindo said on Sunday that global oil demand would decline by 9.5 million barrels per day (mb/d) in 2020 amid ongoing uncertainties.
The number of COVID-19 deaths worldwide is now close to 998,000, according to the latest data from Johns Hopkins University.
While the US still tops the number of cases above 7.1 million as of Monday morning, India has increased its cases to more than 6 million, and Brazil follows with over 4.7 million cases.
By Sibel Morrow