The number of oil rigs in the U.S. decreased by eight this week, according to data released by oilfield services company Baker Hughes on Friday.
Number of oil rigs, which indicates short-term production for near future, decreased by eight to reach 677 for the week ending Dec. 27, from 685 in the previous week.
This marked the first decline in oil rig count after two consecutive weekly increases, according to the data.
The number of oil rigs in the U.S. is still 23.5% down year-over-year when it stood at 885 the same time a year ago.
With the decline in oil rig count, crude prices showed some gains on Friday.
International benchmark Brent crude closed Friday at $68.15 per barrel with a 0.34% gain, while American benchmark West Texas Intermediate ended the day at $61.69 a barrel with a 0.2% increase.
By Ovunc Kutlu