Brent crude, the worldwide benchmark, rose $1.38 to $74.01 a barrel by 1319 GMT and reached $74.19, the highest since August 8.
A key index of the dollar versus a basket of other currencies.DXY fell on Friday, boosting the price of oil and other dollar denominated commodities.
The EIA also said USA oil production C-OUT-T-EIA was rising, reaching 11 million barrels per day last week.
A trade standoff between the USA and China continues to weigh on crude prices.
Nigeria earned as much as N7.93 trillion ($26 billion) from oil exports between January and July this year, making it the sixth largest revenue earner among the Organisation of Petroleum Exporting Countries (OPEC) member nations.
This week's report was bullish for crude, said Societe Generale oil analyst Michael Wittner.
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The strength of the greenback has an inverse relationship to the price of crude oil.
"The OPEC Reference Basket of Crudes (ORB) is made up of Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela)".
Crude trading on Thursday resumed a posture more in keeping with previous weeks than in the past few days, with both benchmarks losing some ground due to China imposing 25 percent tariffs on us products.
Global markets were more cautious as the ongoing trade spat between the United States and China was seen as a drag on economic growth, traders said. The global benchmark crude traded at a $6.90 premium to WTI.
Meanwhile, a Chinese trade delegation is in Washington to discuss trade disputes with the USA side.
USA crude inventories fell 5.8 million barrels last week, the Energy Information Administration said, exceeding the 1.5 million-barrel draw forecast by analysts polled by Reuters. Reports that China will increase infrastructure spending also helped reduce concerns that U.S.