Saudi Arabia continues price cuts on Arab Light crude to Asia

Meanwhile, OPEC+ kept oil output unchanged on Sunday after a quick meeting that avoided discussion of the political crises affecting several of the producer group's members.

Over the weekend, the United States attacked OPEC member Venezuela and captured its illegitimate president, Nicolas Maduro.

US President Donald Trump had imposed a blockade of all sanctioned oil tankers ahead of Maduro's capture and on Sunday said an oil embargo remained in full force.