Singapore — Oil prices fell on Monday after US energy firms added rigs for the first time in 2019 in a sign that crude production there may rise further, and as China, the world’s second-largest oil user, reported additional signs of an economic slowdown. US crude oil futures were at $53.43 a barrel at 2.53am GMT, down 26c, or 0.5%, from their last settlement. International Brent crude oil futures were at $61.50 a barrel, down 14c, or 0.2%. High US crude oil production, which rose to a record 11.9-million barrels a day late last year, has been weighing on oil markets, traders said. In a sign that output could rise further, US energy firms last week raised the number of rigs looking for new oil for the first time in 2019 to 862, an additional 10 rigs, Baker Hughes energy services firm said in its weekly report on Friday. Beyond oil supply, a key question for this year will be demand growth. Oil consumption has been increasing steadily, likely averaging above 100-million barrels a day...
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