0il extended losses after the biggest decline in three weeks as Kuwait signaled a deal with Saudi Arabia to renew crude output along their border and as U. S. shale explorers increased drilling.

      February futures dropped 0. 4% in New York after falling 1.2% on Friday，the most since Nov. 29. U.S. explorers last week boosted drilling by the most in almost two years,according to data from Baker Hughes Co. on Friday.

      0il is up about 9% this month after the Organization of Petroleum Exporting Countries and its allies agreed to deepen output cuts. Hedge funds increased bullish bets in the week ended Dec. 17 to the highest level in more than seven months on rising crude prices，according to data released

Friday.

      West Texas Intermediate for February delivery fell 21cents to $60. 23 a barrel on the New York Mercantile Exchange as of 7:34 a. m. London time. The contract declined 74 cents to settle at $60. 44 on Friday.

      Brent for February settlement fell 14 cents，or 0. 2%，to $66 a barrel on the ICE Futures Europe Exchange. The contract fell 40 cents to close at $66. 14 on Friday. The global benchmark crude traded at a $5. 78 premium to WTI.