Crude prices were a bit lower to start the week on Monday, slipping from their strongest level in more than two years amid indications that U.S. producers will ramp up output to take advantage of the recent rally.
Oilfield services firm Baker Hughes said Friday that the number of active U.S. rigs drilling for oil rose by nine to 738 last week. It was the biggest jump since June, sparking concern that U.S. shale producers will ramp up output with prices holding near 28-month highs.
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