Oil fell 1 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, but the price is still on course for its strongest gain in the month of January for 14 years.  The ongoing trade dispute between the United States and China looks unlikely to end any time soon and the impact of the dispute on the Chinese economy is increasing. Brent crude oil futures were down $1.14 at $60.50 a barrel by 1038 GMT, while U.S. futures were down $1.05 at $52.64 a barrel. U.S. crude production, which hit a record 11.9 million barrels per day (bpd) late last year, has undermined sentiment in the oil market, traders said. […]