Oil futures dipped in Asian trade off November 20 highs as the dollar index gained ground, following US data and amid ongoing US-China trade talks.
As of 03:27 GMT, US crude futures due in March shed 0.02% to $55.77 a barrel, while Brent April futures slipped to $66.20, as the dollar index rose 0.05% to 96.85.
Eyes are still focused on OPEC and its allies to gauge their commitment to the agreement to cut output by 1.2 million barrels.
Oil marked a 6.5% profit last week, the second weekly profit in three, and the largest since June 2018.
President Trump said he'd be happy to cancel tariffs if a deal is reached with China, adding his administration is nearer that goal than ever.
Chinese President Xi Jinping also said the talks will carry on in Washington this week, hoping for an agreement soon before the truce deadline in early March.
US Oil Rigs
Baker Hughes reported an increase of 3 rigs last week to 857 rigs in the week ending February 15 away from ten-month lows as output steadied at a record 11.9 million bpd.
The EIA reported another record output in shale output at 8.179 million bpd.
Brent futures due in April rose 0.1% to $66.3 a barrel, with a session-high at $66.8, and a low at $65.9.