Singapore — Oil prices fell on Monday, pulled down by rising Russian production and US drilling activity creeping up to its highest in more than three years.Analysts expect surging US output to start offsetting efforts led by the Organisation of the Petroleum Exporting Countries (Opec) to withhold production.Those output cuts have been in place since early 2017 and have pushed up prices significantly in the first half of this year.Brent crude futures, the international benchmark for oil prices, were at $76.21 a barrel at 5.04am GMT, down 25c or 0.3% from their last close.US West Texas Intermediate (WTI) crude futures were down 21c or 0.3% at $65.52 a barrel.Prices were weighed down by another rise in the number of rigs drilling for new oil production in the US. The rig count crept up by one to its highest since March 2015, at 862, according to energy services firm Baker Hughes on Friday.That implies US crude output, already at a record high of 10.8-million barrels a day, will rise f...
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