NEW YORK, Sept. 30 (Xinhua) -- Oil prices settled significantly lower on Monday amid reports that Saudi Arabia has made progress in restoring its oil capacity.

The West Texas Intermediate (WTI) for November delivery fell 1.84 U.S. dollars to settle at 54.07 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery declined 1.13 dollars to close at 60.78 dollars a barrel on the London ICE Futures Exchange.

Saudi Aramco last week restored full capacity to the level before the attacks on its oil facilities, Ibrahim Al-Buainain, chief executive officer of its trading arm, said on Monday, according to a Reuters report.

On Sept. 14, drone attacks damaged the Saudi Aramco Abqaiq oil processing facility and the Khurais oil field in eastern Saudi Arabia, resulting in massive disruption of the crude oil production capacity in the region.

Meanwhile, oil prices were also pressured by some speculative trading, noted experts.

"Speculative financial investors (further) reduced their net long positions in Brent and WTI in the last reporting week, thereby contributing to the slide in oil prices," Carsten Fritsch, energy analyst at Commerzbank Research said in a note. Enditem

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