International Benchmark Brent crude traded at $76.75 per barrel at 15.35 GMT+2 while American benchmark West Texas Intermediate (WTI) saw prices of $68.77 per barrel on Friday.
On Monday, Brent oil opened at $78.88 per barrel.
Brent crude reached as high as $80.35 per barrel on Tuesday, but declined to as low as $76.85 per barrel on Friday.
The oil price drop came after the Friday's discussion in St. Petersburg between Russian Energy Minister Alexander Novak and Saudi Energy Minister Khalid Al-Falih about the possibility of increasing OPEC and non-OPEC oil production.
By Huseyin Erdogan