International benchmark Brent crude traded at $66.39 at 1327 GMT on Friday, while American benchmark West Texas Intermediate (WTI) saw prices of $58.03.
Brent crude traded at $66.27 per barrel at 0808 GMT on Monday, and WTI registered as $56.52 at the same time.
The U.S.' Energy Information Administration (EIA) lowered its crude production estimates for 2019 and 2020 in its Short-Term Energy Outlook report for March published on Tuesday.
The EIA forecasts that crude oil production in the U.S. would average 12.3 million barrels per day (mb/d) in 2019 and 13 million mb/d in 2020.
Global oil supply decreased in February by 0.16 mb/d month-on-month to average 99.15 mb/d, OPEC data showed on Thursday.
OPEC's monthly oil market report said that OPEC's crude production in February decreased by 221 thousand barrels per day (b/d) to average 30.55 mb/d, according to secondary sources.
Global oil production fell by 340 thousand b/d month-on-month in February to 99.75 mb/d as OPEC and non-OPEC cuts deepened, according to the International Energy Agency (IEA) on Friday.
OPEC crude output dropped by 240 thousand b/d in February to 30.68 mb/d, to its lowest in four years. This was based on losses in Venezuela, which is facing an economic and political crisis, and lower output from Saudi Arabia, which is following through on designated supply cuts.
By Firdevs Yuksel
Anadolu Agency
energy@aa.com.tr