Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on September 5, but the benchmarks were still on track to post their worst weekly drop in four on fears of Covid-19 curbs in China and weak global growth will hit demand.
Brent crude futures rose $1.20, or 1.3 per cent, to $93.56 a barrel at 0117 GMT, while US West Texas Intermediate (WTI) crude futures jumped $1.16, or 1.3 per cent, to $87.77 a barrel.
Both benchmark contracts slid 3 per cent in the previous session to two-week lows. Brent was headed for a weekly drop of nearly 8 per cent, and WTI was on track to fall about 6 per cent for the week.
