U.S. oil rose on Friday after the Western world's energy watchdog said crude prices may have reached their bottom, although Goldman Sachs said the market's rally was "premature."
Also on Friday, oilfield services firm Baker Hughes reported the number of rigs drilling for oil in the United States fell by 6 to a total of 386. At this time last year, the oil rig count stood at 866.
The International Energy Agency, which coordinates energy policies of industrialized nations, said U.S. and non-OPEC crude output was beginning to fall quickly and increases in Iranian supply had been less than dramatic.
The IEA said it believed non-OPEC output will fall by 750,000 barrels per day this year, some 25 percent more than the 600,000 bpd it previously forecast.