HNI Commodity Pack, Oil prices fall after US drillers add rigs
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Oil fell on Monday after US shale drillers added more rigs last week, but prices held not far off their highest since mid-2015, supported by an extension of output cuts agreed last week by OPEC and other producers.
Drillers in the United States added two oil rigs in the week to Dec 1, bringing the total count up to 749, the highest since September, energy services firm Baker Hughes said in its closely followed report late on Friday.
US West Texas Intermediate was down 21 cents, or 0.3 percent, at $58.15 a barrel at 0112 GMT. Brent futures were 22 cents, or 0.4 percent, lower at $63.51 a barrel.
The US rig count, an early indicator of future output, has risen sharply from the 477 rigs that were active a year ago after energy companies boosted spending plans for 2017.
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