International Benchmark Brent crude traded at $66.19 per barrel while American benchmark West Texas Intermediate (WTI) saw $62.14 at 12.40 GMT on Friday.
Brent oil started the week with a price of around $65, and increased to around $66.47 by the end of the week.
The U.S. Energy Information Administration said on Thursday that last week, commercial crude oil inventories in the country fell by 0.4 percent, or by 1.6 million barrels, to 420.5 million barrels, which resulted in an increase in crude oil prices trading above $66. However, the market expectation was an increase of 1.8 million barrels in stocks.
According to experts, the decline in U.S. crude oil production also supported the upward movement in oil prices. Last week, crude oil production in the U.S. fell by a thousand barrels per day to 10.27 million barrels, compared to the previous week. This decline was the first after increases over five straight weeks.
The statement of a 133 percent conformity level of the Organization of the Petroleum Exporting Countries (OPEC) and participating non-OPEC countries on Thursday, also pushed prices to the highest level of the week at $66.48.
By Firdevs Yuksel
Anadolu Agency
energy@aa.com.tr