The oil rig count in US has declined for eighth consecutive week, according to the latest data released Friday by oilfield services company Baker Hughes.
The number of oil rigs, an indicator of short-term production in the country, fell by 33 to reach 292 for the week ending May 9, from 325 the previous week.
In the past eight weeks, the decline in oil rig count in the US totaled 391, the data showed.
At Friday's close, price of international benchmark Brent crude stood at $29.46 per barrel, while American benchmark West Texas Intermediate (WTI) was at $23.55 a barrel.
By Murat Temizer