Oil prices post sharp losses this week
The WTI and Brent lost 3.8 percent and 2.3 percent, respectively, for the week.
U.S. drilling rigs increase despite sharp drop of oil prices this week
The number of active drilling rigs in the United States increased by two this week to 1,054.
China central bank restarts open market operations
China's central bank restarted reverse repo on Thursday to offset the impact of maturing securities.