At 0144 GMT, West Texas Intermediate Crude Oil (WTI) crude oil futures were trading at $51.92 a barrel, down 80 cents or 1.5% from the previous settlement price.
International Brent crude oil futures fell 71 cents, or 1.1%, to $61.39 a barrel. Beckhughes reported on Friday that in the United States, energy companies last week increased the number of oil drilling rigs they operated for the second time in three weeks.
In the week ending February 8, the company added seven oil drilling platforms, bringing the total to 854, indicating a further increase in U.S. crude oil production, reaching a record 11.9 million barrels per day.
After Sunday's fire, Phillips 66 refinery in Wood River, Illinois closed 120,000 barrels of crude oil distillation unit (CDU) a day, causing WTI prices to fall.
In addition, Igor Schechin, president of Russian oil giant PetroRussia, wrote to Russian President Vladimir Putin that Moscow's agreement with the Organization of Petroleum Exporting Countries (OPEC) to conserve output was a strategic threat and would fall into the hands of the United Nations. Status.
Since 2017, the so-called OPEC + agreement has been implemented to control global oversupply. It has been extended several times, with participants cutting production by 1.2 million barrels a day until the end of June under the latest agreement.
OPEC and its allies will meet in Vienna from April 17 to 18 to review the agreement.
The reason for preventing further decline in crude oil prices is the sanctions imposed by the United States on Venezuela, targeting its state-owned oil company PDVSA.
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