International benchmark Brent crude increased to $69.83 per barrel while American benchmark West Texas Intermediate (WTI) sees $64.36 at 07.30 GMT on Monday.
Brent decreased to $68.99 while WTI saw prices at $63.34 at 12.19 GMT on Friday.
Brent oil, which started last week at approx. $67 per barrel, hit $70 per barrel on Thursday, the highest level in three years supported by OPEC's production cut agreement, according to experts.
The number of oil rigs in the U.S. increased by 10 this week, the oilfield services company Baker Hughes announced on Friday.
This marked the highest increase in the oil rig count during a single week since June last year, according to Baker Hughes' data
OPEC and Russia's extension of the output cut deal in 2018 has trimmed some of the oversupply in the global market, experts said, adding that the sudden decline in the U.S.' weekly crude oil production also pushed oil prices higher.
By Gulsen Cagatay