Crude oil prices fell on Friday as a stronger dollar weighed on the market and an industry report showed U.S. oil drillers continue to ramp up activity with prices holding above $50 a barrel.
Baker Hughes reported U.S. drillers added four oil rigs in the last week, marking the 15th increase in 16 weeks.
Concerns about the near 5 million-barrel crude build reported by the EIA on Thursday also forced crude prices to retreat.
"The fundamental backdrop is still bearish," said Commerzbank analyst Carsten Fritsch. "Every increase is driven by speculation and optimism," rather than an actual tightening of supplies, he said.
