An oil tanker unloads crude oil at a crude oil terminal in Zhoushan, Zhejiang province, China July 4, 2018.
International Brent crude oil futures were up $1.01, or 1.7 percent, at $61.85 per barrel around 11 a.m. ET (1400 GMT). U.S.
Venezuela pumped 1.2 million barrels a day of crude in December, a decline of nearly 50 percent in four years, according to data compiled by Bloomberg.
U.S. West Texas Intermediate crude prices ended Thursday's trading session down 44 cents, at $53.79 a barrel, after hitting a two-month high of $55.37/Bbl, Kallanish Energy reports.
The price climbed to its highest of the day after General Electric Co's Baker Hughes energy services firm revelead that U.S. energy firms had cut the number of oil rigs in operation for the a fourth week in the past five, bringing the total to its lowest since last June. Last week's data showed the rig count in January fell the most in a month since April 2016.
Oil prices rose by about three per cent on Friday on the back of news that United States job growth had been greater than expected, despite the government's month-long shutdown.
Liverpool defender Joe Gomez may need surgery
Asked to comment on Walker's tweet, Liverpool manager Jurgen Klopp said he would never take pleasure from the slip-ups of a rival. They then travel to Everton on Wednesday for a re-arranged fixture before hosting Chelsea the following Sunday.
European governments are also considering sanctions, which would cut off Venezuela's ability to do business in euros as well.
Some relief especially to US refiners may come in the form of Canadian heavy crude, despite infrastructure constraints between the two countries.
Global markets were supported as U.S. President Donald Trump tweeted on Thursday that he would meet Chinese President Xi Jinping soon to try to seal a comprehensive trade deal. But Trump later warned he could postpone talks if a deal remains elusive.
"Many traders recognize that sense is likely to prevail and a deal will be struck after the summit - although the shape of any deal will continue to drive a jittery market", Cantor Fitzgerald Europe said in a note.
According to a press agency survey report revealed on Thursday, the 31st of January, the OPEC oil supply had dropped in to two-year low, as Saudi Arabia and its crude producing gulf allies had curbed the crude oil production despite chance of losing market stake in a near-term outlook in order to balance the crude oil price and crude oils from Iran, Libya and Venezuela had not been reaching the refineries due to U.S. sanctions. A Reuters poll showed that OPEC pumped 30.98 million barrels per day (bpd) in January, down 890,000 bpd from December.
The United States will soften sanctions on Venezuelan state-owned oil company PDVSA if Caracas transfers control over the company to opposition leader Juan Guaido or any democratically elected government, the US Treasury Department said on Friday.