Mubasher: Brent prices leapt 5.86% or $1.72 to reach $30.76 per barrel on Friday, their highest in more than one week.
Crude oil prices also climbed 4.66% to $30.80, the highest in more than one week.
Citi Group lowered its forecast for global crude prices to $40 a barrel in 2016.
Venezuela Oil Minister Eulogio del Pino called on Thursday for OPEC and non-OPEC producers to meet in February to discuss bolstering low oil prices that have hammered the recession-hit South American nation's finances.
