US benchmark West Texas Intermediate for March delivery rose 65 percents to USD 52.34 while Brent crude for March rose 35 cents to USD 58.15 in mid-morning trade.
Last week saw WTI surge 13.6 per cent and Brent add 9.4 percent, their best weekly gains since February 2011.
Nicholas Teo, market analyst at CMC Markets in Singapore, said the gains were "motivated by supply-side influences" in the United States.
A survey by US oil services firm Baker Hughes Inc released on Friday showed the number of rigs drilling for oil in the United States fell 83 to 1,140 in the week to February 6.

The dip followed a cut of 94 rigs in the previous week.
The drop, coupled with announcements of deep cuts in capital spending by major oil companies including BP and BG Group, suggests there will be tighter supplies in the future.
Oil prices have plunged by about 50 percent from their June peaks, largely owing to a surge in global reserves
boosted by robust US shale production.
Teo said a surprisingly robust jobs report in the US was also supporting prices as it means stronger demand.
The Labor Department on Friday reported the the world's biggest economy added 257,000 jobs in January and revised upward already healthy growth in the prior two months.
The unemployment rate edged up to 5.7 percent from 5.6 percent, but that was in part because more people were actively seeking jobs.
"The US economy seems to be singing a different tune to the symphony of deflationary calls played by most other major economies in recent weeks," Teo said.