Oil rig count in the U.S. has declined for the seventh 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, decreased by three to reach 710 for the week ending Oct. 4, from 713 the previous week.
With the latest result, the number of oil rigs in the country is now 151 less than the same period a year ago when it stood at 861, marking a 17.5% decline year-over-year.
After the fall in number of oil rigs, crude prices rose on Friday to end it with gains. International benchmark Brent crude closed Friday at $58.50 per barrel with a 1.37% increase.
American benchmark West Texas Intermediate ended the session at $52.98 a barrel with a 1.01% daily gain.
By Ovunc Kutlu