A rolling element bearing comprises an inner ring and an outer ring which are each provided with a raceway, and a series of rolling elements which are in contact with the raceways of each ring. A lubricant film is provided in the contacts between the rolling elements and the raceways, which film forms a lubricant meniscus at the inlet side of each contact. In the bearing starved lubrication conditions prevail. The surface of each rolling element has minute recesses filled with a lubricant quantity, said recesses being flattened in the contact area defined by the contact between the rolling elements and the rings and thereby releasing lubricant at the inlet side of each contact resulting in a displacement of the meniscus further away from said contact. This meniscus displacement results in an increased lubricant film thickness in each contact area, thus improving the lubricating conditions in the bearing.