Crude oil prices started the last trading day of May on a high note, gaining ground despite concerns about the pace of the global recovery.

West Texas Intermediate, the U.S. standard, gained about eight-tenths of a percent in early Friday trading for $57.68 per barrel, down about 2.5 percent for the month.

WTI is up more than 25 percent since January lows amid signs markets were moving toward the demand side as economic data showed forward momentum. The U.S. Energy Information Administration said in a weekly petroleum status report commercial crude oil stockpiles fell by about 2.8 million barrels for the week ending May 22.

Prices have since stalled as key metrics indicate momentum has slowed. The U.S. Commerce Department said Friday real gross domestic product decreased at an annual rate of 0.7 percent in the first quarter of the year. Real GDP increased 2.2 percent in the fourth quarter.

Earlier this week, the U.S. Labor Department reported seasonally adjusted claims for unemployment at 282,000 for the week ending May 23, an increase of 7,000 from the previous week.

The price for Brent, the global benchmark, was up modestly in early Friday trading to $62.80 per barrel, down 5 percent from the start of May.

The low price of crude oil, down from June 2014 highs above the $100 per barrel mark, is slowing developments in the exploration and production sector.

Oil field services company Baker Hughes said Friday there were eight fewer rigs actively exploring for or producing oil and gas in North America and 49 fewer internationally than for the week ending May 15.