International crude benchmark Brent decreased to $83.39 per barrel at 08.07 GMT on Monday, while American benchmark West Texas Intermediate (WTI) saw prices of $73.81 per barrel.
Brent oil traded at $84.22 per barrel at 13.05 GMT on Friday while WTI saw $74.50.
The number of the oil drilling rigs in the U.S decreased by 2 last week to 861 compared to the previous week according to oilfield services company Baker Hughes data on Friday, a sign of weakening for future production prospects.
The looming U.S. sanctions against Iran pushes the prices upward however the reports of international media suggests on weekend that Washington could provide some relief of Iranian oil exports to certain countries. The news helped keep prices from rising.
Saudi Arabia also reassured its position as the 'trusted supplier' and said it will boost production if there is a void of unmet demand following the U.S. sanctions against Iran.
Iran tries to avoid U.S. sanctions, which will cripple its oil dependent economy by trying to form alliances.
The U.S. sanctions against Tehran and Moscow will help bolster Russian-Iranian ties, according to Iran's deputy oil minister for gas affairs, Hamid Reza Araghi.
Araghi's remarks came during an interview with Russian Sputnik News held on the sidelines of the Russian Energy Week from Oct. 3 to 6.
'[U.S. President Donald] Trump’s threats and the U.S. stance against Tehran and Moscow sets the ground for the development of energy cooperation between Iran and Russia,' Araghi said in the interview, parts of which were re-published Saturday on the website of Shana, the news outlet of the Iranian Oil Ministry.
US$1 equals 6,17 Turkish liras.
By Zeynep Duyar
Anadolu Agency
energy@aa.com.tr