Oil markets edged up on Monday, lifted by the first fall in U.S. drilling activity in months, although price gains were capped by reports of rising OPEC output last month even as the group has pledged to cut supply.
Brent crude futures LCOc1 had climbed 13 cents, or 0.3 percent, to $48.90 per barrel by 0643 GMT (7.43 a.m. BST), after jumping 5.2 percent last week in their first weekly gain in six weeks.
U.S. West Texas Intermediate (WTI) crude futures CLc1 rose 17 cents, or 0.4 percent, to $46.21 per barrel, adding to last week's 7-percent gain.
U.S. prices were lifted as drilling activity in the United States for new oil production fell for the first time since January, dropping by two rigs.
Read more at Reuters.