According to the US Energy Information Administration, US crude production fell in February to 12.5 million barrels per day, the lowest level since December.
Fuel demand reached nearly 20 million barrels per day, the highest level since November.
price movements
Brent crude fell about 3% in the past week, after falling about 5% the previous week.
Brent also fell for the fourth month, amid the impact of disappointing US economic data and interest rate uncertainty on the demand outlook.
West Texas Intermediate crude fell about 1% last week, after falling about 6% the previous week.
During Friday’s session, Brent crude futures for June delivery rose $1.17, or 1.5%, to settle at $79.54 a barrel.
The most traded contract for the month of July jumped 2.7% to $80.33 upon settlement.
U.S. West Texas Intermediate (WTI) crude rose $2.02, or 2.7%, to $76.78 on Friday.
Crude prices have fallen in recent weeks and months on concerns that interest rate moves could reduce demand.
For the whole of April, Brent fell less than 1%, while WTI rose nearly 1%, its first monthly rise in six months.
Read the Latest World News Today on The Eastern Herald.
