Investing.com - Oil struggled to recover Monday from heavy losses at the end of last week as U.S. drilling activity renewed its upward trend.
U.S. crude was off 53 cents, or 1.20%, at $43.70 at 08:00 ET. Brent shed 54 cents, or 1.16%, to $46.17.
Oil settled almost 3% lower Friday amid concerns about U.S. supply and a rise in OPEC exports.
Baker Hughes reported a rise of seven in the U.S. oil rig count in the latest week to 763.
The rig count has increased 24 out of the past 25 weeks and stands at levels last seen in April 2015.
That is undermining output cuts of 1.8 million barrels a day by OPEC and non-OPEC producers, including Russia, through to March.
Nigeria and Libya, which have been exempt from the production curbs, have increased output.
The two countries reportedly may be invited to attend a meeting later this month in Saint Petersburg between major producer Russia and key OPEC ministers.