Oil rig count in the U.S. has increased for the second week in a row, according to data released by oilfield services company Baker Hughes on Friday.
Number of oil rigs, which indicates production in near future, rose by one to reach 713 for the week ending Oct. 18, from 712 the previous week.
With the latest result, the number of oil rigs in the country is now 160 less than the same period a year ago when it stood at 873, marking a 18.33% decline year-over-year.
After the decrease in number of oil rigs, crude prices fell on Friday. International benchmark Brent crude closed Friday at $59.29 per barrel with a 1.03% decrease.
American benchmark West Texas Intermediate ended the session at $53.72 a barrel with a 0.39% daily loss.
By Firdevs Yuksel