Oil steadied on Friday as investors weighed the impact of sharp interest rate rises on energy consumption, offsetting hopes of higher Chinese demand and output cuts by OPEC and its allies.
Brent crude was down 2 cents at $92.36 a barrel by 1218 GMT. U.S. West Texas Intermediate crude was up by 35 cents, or 0.4%, to $84.86.
Brent, which came close to its all-time high of $147 a barrel in March, is on track for a weekly gain of almost 1%, while U.S. crude was set to fall less than 1%. Both benchmarks dropped in the previous week.
China, the world's largest crude importer, has stuck to strict COVID-19 curbs this year, weighing heavily on business and economic activity and lowering demand for fuel.
Oil gained support from a looming European Union ban on Russian oil, as well as the output cut agreed earlier this month by OPEC+.
