Mubasher: Oil prices rose in Monday trading, with indications of shale oil production faltering in U.S..
At 11:30 GMT, Brent crude futures prices edged up 1.01% to $34.06 a barrel, while U.S. crude futures rose by 2.5% to $30.5 per barrel.
The number of U.S. drilling rigs declined last week to its lowest level since December 2000, according to Baker Hughes statement.
It is the ninth consecutive decline in drilling rigs.
