Energy stocks declined premarket Monday as the Energy Select Sector SPDR Fund (XLE) was recently down 2.7%.

The United States Oil Fund (USO) was down 3.4% and the United States Natural Gas Fund (UNG) was 0.3% higher.

Front-month US West Texas Intermediate crude oil was down 1.9% at $60.80 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined by 1.8% to $64.39 per barrel, and natural gas futures were 1% higher at $3.88 per 1 million British Thermal Units.

Shell (SHEL) shares were down more than 5% after the company lowered its Q1 liquefied natural gas production outlook to between 6.4 million and 6.8 million metric tons, down from a previous forecast of 6.6 million to 7.2 million metric tons, due to weather impact and unplanned maintenance, including in Australia.

Petrobras (PBR) said it has received a license to operate a fauna care and rehabilitation unit in the municipality of Oiapoque in Brazil's Amapa state. Shares of Petrobras were 3% lower premarket.

Woodside (WDS) shares were up nearly 2% after the company said it has agreed to sell a 40% interest in its Louisiana LNG Infrastructure business to Stonepeak.