"Sentiment has been further hampered by the United States dollar finding support overnight following a late Friday sell-off", said Mike van Dulken and Henry Croft, analysts at Accendo Markets.
The Joint Technical Committee was created January 22 under the OPEC Monitoring Committee, designed to monitor the implementation of countries' obligations to cut oil production.
Oil prices slipped on Monday, wiping out some of the previous session's gains, as lower growth targets in China and concerns over Russia's compliance with a global deal to cut oil output sparked renewed worries over a crude oil supply glut.
USA oil producers are likely to add more rigs in the coming months considering a potential growth in capital investments.
Novak gave a high rating to the outcome of talks with Saudi Arabia's energy minister.
"It's premature to talk about extending the agreement", Russian oil minister Alexander Novak told reporters. Though OPEC oil inventories have been falling, U.S. oil inventories are steadily rising.
Syria accuses main opposition of taking peace talks 'hostage'
In the latest cycle of talks, Syrian government and opposition representatives once more failed to meet to discuss the situation face-to-face.
Pointing to U.S. President Donald Trump's promise to reduce regulations in the sector in order to launch an "energy revolution" in the country, experts indicate that American energy companies will have a more positive view in the conference.
This January, the volume of daily production amounted to some 793,900 barrels, while the daily export was 617,000 barrels.
"It's exciting now to see the rig count rising and business activity picking up again", said Peter Boylan, chief executive of Cypress Energy Partners LP, an oilfield service provider with operations in Texas and North Dakota.
That newfound investment vigor and projections for stronger shale production have kept a lid on the recovery.
This year, it's "evident" that under the Organization of the Petroleum Exporting Countries-led production cut agreement, output reductions are taking place just as production from the non-OPEC sector, led by the USA, is recovering. Brent, the global benchmark, gained 11 cents, or 0.2%, to $56.01 a barrel on ICE Futures Europe. "We may see markets tighten around 2020 and spare production capacity shrink big time".
"They got knocked down on one or two occasions last week but have managed to get up and undoubtedly will continue to fight", the analysts said.