Oil prices spiked five percent on friday reaching two week highs on the back of stockpile draws and declining U.S. production. Oil prices increased from the mid-$30s per barrel this week, with Brent once again rising above $40 per barrel and WTI sitting near $39 per barrel at the end of the week. Prices bounced around, trading down on growing pessimism surrounding the Doha meeting on April 17, but receiving a boost from the latest EIA figures. EIA data looks bullish . The U.S. saw oil production fall by 14,000 barrels last week. The U.S. oil industry has posted consistent declines in recent months, and while the weekly data from the EIA is sometimes inaccurate, the best guess is that the U.S. is producing 9.008 million barrels per day right now. […]