Oil prices are currently at fresh two-month highs and on track to post the strongest weekly gains, on signs that crude oversupply are easing.

It was said by the oilfield services firm, Baker Hughes, the number of oil rigs operating in the United States rose by two to a total of 766 last week.

Traders’ investors were expecting the update on U.S. rig count, in order to assess any sign of a slowdown in drilling activity.

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