WASHINGTON (dpa-AFX) - Crude oil futures rose Friday, extending strong weekly gains after a relatively upbeat U.S. jobs report.
Jan. WTI oil gains 62 cents, or 1.2%, to settle at $51.68/bbl.
Prices surged 12% this week, mostly after OPEC's deal with Russia to curb supplies, a move intended to keep oil prices above $50 a barrel.
Baker Hughes reported that the number of active U.S. rigs drilling for oil climbed by 3 to 477 rigs this week.
Rigs have come online in recent weeks as companies predict oil will steady.
In economic news, U.S. unemployment dropped to 4.6%, the lowest since 2007.
Non-farm payroll employment climbed by 178,000 jobs in November following a downwardly revised increase of 142,000 jobs in October.
However, wages also declined unexpectedly.
Copyright RTT News/dpa-AFX