Saudi Aramco said quarterly revenues were impacted by lower crude oil and oil products prices.
Crude oil falls below $67.31 as OPEC boosts output by 547,000 bpd and Russia sanctions fuel a bearish oil outlook.
Despite U.S. President Donald Trump telling reporters Friday that he "heard" India would halt purchases, officials in New Delhi have pushed back. New Delhi is likely to remain non-committal on oil purchases as it assesses the trade-offs of this "Russia option" as a bargaining chip, an analyst told CNBC.
WTI crude drops as OPEC+ hikes output, but Russia sanctions risk new supply shock. Traders eye $66.56 support as bearish momentum builds.
Oil prices slipped in early Asian trade on Monday after OPEC+ agreed to another large production hike in September.
U.S. stock-market futures declined Sunday, after Wall Street ended last week with its worst session since April.
The crude oil market has had a strong week, as the President of the United States threatened Russia with further sanctions, as well as tariffs for countries that purchase Russian oil, kicking off potential supply concerns.
State-owned Kuwait Petroleum Corporation posted a net profit of 1.366 billion dinars ($4.47 billion) for the fiscal year ended March 31, down 5.8% year-on-year according to Reuters calculations based on the company's latest annual report.
U.S. trade tariffs drive market jitters, fueling volatility in oil and gas prices as supply risks and demand fears compete for investor attention.
Crude oil holds a bullish posture despite near-term consolidation, as rising support and Fibonacci targets point to a possible continuation toward the top channel line.
Oil prices gained for a fourth straight day on Thursday, as investors worried about supply shortages amid U.S. President Donald Trump's push for a swift resolution to the war in Ukraine and threats of tariffs on countries buying Russian oil.
The tariff on India can be seen as a cautionary note to U.S. trading partners that they will be severely penalized if they don't bend to Trump's will.