The oil rig count in the US increased this week, according to the latest data released by oilfield services company Baker Hughes on Friday.
The number of oil rigs, an indicator of short-term production in the country, increased by 3 to 267 for the week ending Jan. 1, from 264 the previous week.
At Thursday's trading close, the price of international benchmark Brent crude stood at $51.80 per barrel, while American benchmark West Texas Intermediate (WTI) was at $48.52 a barrel.
Global markets were mostly closed on Friday due to the New Year holiday break.
By Ebru Sengul Cevrioglu