The West Texas Intermediate (WTI) for February delivery settled 8 cents higher at 60.52 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery added 25 cents to close at 66.39 dollars a barrel on the London ICE Futures Exchange.
However, the price gains were kept in check as investors' concerns for oversupply issue were renewed.
The Organization of the Petroleum Exporting Countries and other major exporters, known as OPEC+, agreed this month to extend and deepen output cuts in the first quarter of 2020.
But Russian Energy Minister Alexander Novak said on Monday OPEC+ may consider easing the output restrictions at its meeting in March, according to media reports.
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