Oil prices started the week on a low after supply concerns eased on restored Saudi output.
International benchmark Brent crude was trading at $61.51 per barrel at 0659 GMT for a 0.79% loss on Monday after ending Friday at $62 a barrel.
American benchmark West Texas Intermediate was at $55.74 a barrel at the same time -- marking a 0.60% decline from the previous close of $56.08 per barrel.
Saudi Arabia restored its oil production much faster than anticipated in the aftermath of the drone attacks.
This positive development soothed worries that global oil supply would remain weak for the next few months, nudging prices lower.
Meanwhile, tension in the Middle East continues after Saudi Arabia's crown prince announced Sunday that oil prices could spike to 'unimaginably high numbers' if the world does not come together to deter Iran.
The number of oil rigs in the U.S. is among other factors influencing oil prices.
The rig count decreased by 6 to 713 for the week ending Sept. 27, according to data released by oilfield services company Baker Hughes on Friday.
By Zeynep Beyza Kilic