Reynolds Number and Friction Factor: How Does It Work?

[thereisnospoo]

So, I understand that when reynolds number increases, the fluid becomes more turbulent, and there is a greater energy loss due to formation of eddies. However, shouldn't this increase in reynolds number cause an increase in friction as well?

But, according to the moody diagram (http://piping-designer.com/wiki/images/0/05/Moody-Diagram.jpg)
as well as experimental data I have collected, it seems that friction factor actually decreases as reynolds number increases. How is this possible, if increasing turbulence causes more haphazard flow, wouldn't their be greater frictional forces?

 

[Chestermiller]

The drag shear stress at the wall is equal to the friction factor times the dynamic pressure $\rho \frac{v^2}{2}$, and the latter increases with flow velocity more than the friction factor decreases. So the net effect is an increase in the frictional wall stress.