OPEC had cut back on its global oil demand forecast, for each quarter to the end of next year, by an average of 768,000 bpd.
India now has the second most number of COVID-19 cases in the world with almost 5 mln cases and only lags behind the US.
A committee made up of some ministers from the Organization of Petroleum Exporting Countries and its allies will meet on Thursday to discuss if the group's production curbs are enough to prevent a glut.
"Oil prices were lent further support by the APE and the weather, " said Commerzbank analyst, Eugene Weinberg.
Oil prices collapsed to historic lows as the coronavirus crisis hit demand.
OPEC had also cut its demand forecast for 2021, and sees consumption rising by 6.62 million bpd, which is 370,000 bpd less than expected last month.
BC health officials announce 317 new coronavirus cases since Friday
On Sunday, Beshear reported 536 new COVID-19 cases, of which 87 cases involved children ages 18 and under, and three new deaths. As a public service, Shaw Media will provide open access to information related to the COVID-19 ( Coronavirus ) emergency.
The virus has infected more than 29 million people, with roughly 925,000 deaths in around nine months, according to Reuters data.
Chinese oil demand is expected to rise by only 1 mln bpd next year, much less than previously anticipated, according to the US Energy Information Administration.
But even OPEC, which has been trying to create a floor for oil prices and balance the production, has struggled to deal with destruction in demand caused by the pandemic. Both contracts fell on Monday. "They're going to do whatever they can do to kick start the economy and keep the economy going". More than a quarter of USA offshore oil and gas production was shut and key exporting ports were closed as the storm's trajectory shifted east toward western Alabama, sparing some Gulf Coast refineries from high winds. "The total United States oil production is expected to decline by 600,000-800,000 bpd in 2020 compared to 2019 levels", HDFC Securities' Patel said. He added that the demand recovery is highly dependent on measures aimed at containing the coronavirus pandemic and the development of a successful vaccine.
Weak domestic demand in the U.S. will also be a factor in muted operations at refineries. "I think lower oil prices are warranted".
BP's cuts were more medium to long term but the IEA and OPEC looked at demand and supply for the rest of 2020 and into the new year - the news isn't good for energy companies and enthusiasts, but looks like being OK for consumers.
Energy business, ports and refiners raced on Monday to close down as Hurricane Sally grew more powerful while lumbering towards the main U.S. Gulf Coast, the 2nd substantial typhoon to shutter oil and gas activity in the previous month.