International Benchmark Brent crude traded at $76.72 per barrel at 11.40 GMT, while American benchmark West Texas Intermediate (WTI) saw prices of $67.91 per barrel on Friday.
On Monday, Brent traded at $77.74 per barrel at 07.11 GMT, while American benchmark West Texas Intermediate (WTI) saw prices of $69.73 per barrel.
The Energy Information Administration (EIA) reported Thursday that crude oil inventories decreased in the U.S., last week while gasoline stocks saw increases.
Commercial crude oil stocks declined by 4.3 million barrels, or 1.1 percent, to 401.5 million barrels for the week ending Aug. 31, the EIA data showed.
During the previous week, crude stocks decreased by 2.6 million barrels, significantly more than the market expectation of a 1.3 million barrel decline.
In a conference in South Africa on Wednesday, OPEC Secretary-General Mohammad Barkindo said that world oil consumption would hit 100 million barrels per day later this year, sooner than earlier projected.
By Gulsen Cagatay