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Oil falls after U.S. drilling picks up

Oil falls after U.S. drilling picks upOil fell on Monday after U.S. shale drillers added more rigs last week, but prices still held close to their highest since mid-2015, supported by an extension to 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 to 749, the highest since September, energy services company Baker Hughes said in its closely followed report late on Friday. February Brent crude futures were down 54 cents at $63.19 a barrel by 1003 GMT, while U.S. West Texas Intermediate was down 61 cents at $57.75.

Source: Yahoo Finance

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