Oil prices settled lower on Monday for the first time in three sessions. A second-straight weekly rise in the number of active U.S. oil-drilling rigs, reported by Baker Hughes last week, fed concerns over rising U.S. crude production, offsetting support from OPEC’s decision last week to extend its output-cut deal with other major producers to the end of next year. January West Texas Intermediate oil lost 89 cents, or 1.5%, to settle at $57.47 a barrel on the New York Mercantile Exchange.
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