Oil rose on Friday and was headed for a second consecutive weekly gain supported by OPEC+'s decision to make its largest supply cut since 2020 despite concern about recession and rising interest rates.
Brent crude was up 0.61% to $95 a barrel. U.S. West Texas Intermediate or WTI crude also gained 0.58% to $88.96.
Both benchmarks were heading for a second weekly gain, with that of Brent approaching 8% this week. The global benchmark is still down sharply after coming close to its all-time high of $147 a barrel in March.
