The oil rig count in the US declined this week, according to the latest data released by oilfield services company Baker Hughes on Friday.
The number of oil rigs, an indicator of short-term production in the country, fell by 4 to 176 for the week ending Aug. 7, from 180 the previous week.
With that result, the number of oil rigs in the US hit the lowest level since July 2005, and they decreased by a total of 588 from a year ago.
The oil rig count increased two weeks ago, after it declined for 18 consecutive weeks.
At Friday's close, price of international benchmark Brent crude stood at $44.40 per barrel, while American benchmark West Texas Intermediate (WTI) was at $41.22 a barrel.
By Ovunc Kutlu