The number of oil rigs in the U.S. increased by three to reach 857 for the week ending Feb. 15, according to data released by oilfield services company Baker Hughes on Friday.
Despite the increase in the oil rig count, which is an indicator for short-term oil production in the U.S., crude prices gained more than 2 percent on Friday.
International benchmark Brent crude rose 2.7 percent to close at $66.31 per barrel on Friday, while American benchmark West Texas Intermediate finished the day at $55.59 a barrel with 2.2 percent increase.
The decision to lower crude production by Saudi Arabia-led OPEC and Russia-led non-OPEC on Dec. 7 has been trimming some of the glut of supply in the global oil market and pushing prices higher.
In addition, the U.S.' sanctions on Venezuela and Iran make it harder for those countries to export their crude oil to the global market.
The U.S.' crude oil production remained at a record high level of 11.9 million barrels per day (mbpd) for the week ending Feb. 8, according to data released by the U.S. Energy Information Administration (EIA) on Wednesday.
Since the week ending Nov. 9, 2018, crude oil production in the country has marked historic highs of 11.7 mbpd, and climbed to a new record high of 11.9 mbpd for the week ending Jan. 11, according to the EIA data.
The U.S.' crude oil production is expected to average 12.4 mbpd in 2019 and 13.2 mbpd in 2020, according to the EIA's Short Term Energy Outlook report for February.
By Ovunc Kutlu
Anadolu Agency
energy@aa.com.tr