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The value of the commodity has jumped above $57 (£37) per barrel, the BBC reports, helping to offset the decline of four per cent seen at the end of last week.
US crude rose 1.6 per cent to $57.22 per barrel, while London Brent crude climbed to $57.06 - an increase of around two per cent.
Violence in Nigeria, which is Africa's larger oil producer, has also helped to raise prices, something that may interest those considering investing in stock.
"There was quite a pullback on Friday and it might have been a bit overdone," Rob Montefusco, broker at Sucden Financial, told Reuters.
"The whole Nigerian situation is quite supportive [for prices] at the moment," he remarked.
Last week, analyst Gerard Rigby warned that a full recovery in the oil sector may not take place for some time, even though values had hit six-month highs of over $60 per barrel.
