Fears of a recession that clouded the demand forecast caused oil prices to decline on Friday in London, but they still appeared to be headed for a weekly gain.
By 1340 GMT, Brent crude futures had down $2.16, or 2.2%, to reach $97.44 per barrel, while US West Texas Intermediate (WTI) crude had decreased $2.48, or 2.6%, to reach $91.86.
After falling 14% last week because to concerns that rising interest rates and inflation will harm economic growth and gasoline demand, Brent was expected to rise 3% this week.
The Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency both expressed opposing opinions on demand, which the market was absorbing (IEA).
