Brent crude fell 13 cents, or 0.3%, at $43.66 a barrel by 0015 GMT, and U.S. West Texas Intermediate (WTI) crude dropped 18 cents, or 0.4%, to $41.02 a barrel
Brent crude futures for July delivery were trading down 11 cents, or 0.3 per cent, at $34.54 per barrel at 0031 GMT
Saudi Arabian Oil Co., as the company is formally known, pledged an annual dividend of $75 billion for the first five years to attract investors to its initial public offering in December last year
Global economic output is expected to contract by 2% this year - worse than the financial crisis - while demand has collapsed by 30% because of the pandemic.
Foreign outflows could accelerate further if oil prices stay low
Analysts at Jefferies say the risk-reward is now favourable for investors to start buying
Brent crude futures settled at $62.44 a barrel, down 86 cents, or 1.4 per cent
The US-China trade dispute rocked global equity markets last week, while a surprise build in US crude stocks added downward pressure to oil prices
Broader financial markets were under pressure from the rise in US government yields towards 3%
Traders said prices fell after a 9.2 million barrel rise in gasoline stocks in the week ended December 1
I think it's going to be a struggle to move above $60 Brent: Oil Analyst
Rising US shale output suggested supplies would likely remain high