Price of Brent crude was trading below $65 per barrel on Wednesday as Saudi Arabia said it will restore its oil supply to level before the attacks on Saturday.
The international benchmark fell 7.04% on Tuesday when it reached a daily high of $69.25 a barrel and was trading at $64.61 per barrel at 0605 GMT on Wednesday.
American benchmark West Texas Intermediate lost 6.6% on the previous session when it was trading as high as $62.38 a barrel, and it was at $58.95 per barrel during that time.
Newly appointed Saudi Energy Minister Prince Abdulaziz bin Salman said late Tuesday oil supplies returned to their level before the attacks.
The kingdom's national oil company Saudi Aramco will meet its full supply this month through a drawdown of strategic stocks, the minister told reporters.
Saudi Arabia's oil production will reach 11 mbpd by the end of September and will continue to rise to 12 mbpd by the end of November, he added.
After the drone attacks on two major Saudi Aramco facilities, the kingdom's output fell by 5.7 mbpd -- more than half of its total 9.8 mbpd output.
By Ovunc Kutlu