Oil futures were higher ahead of the weekend but remained on track for large weekly losses on fears that slower global economic growth will hurt fuel demand.

This was despite Saudi Arabia saying it has fully restored oil output after recent attacks. 

Brent crude oil futures rose 12 cents, or 0.2%, to $57.83 a barrel early this morning while US West Texas Intermediate (WTI) crude futures rose nine cents, or 0.2%, to $52.54.

But for the week, Brent was down 6.6%, marking its largest weekly loss since December. WTI was down 6% for the week, its biggest decline since July. 

Weak US services sector and jobs growth data yesterday added to worries about global oil demand and exacerbated fears that a protracted US-China trade war could push the global economy into a recession.

Analysts said that concerns about global oil demand are rising, and next week's US-China trade talks will be particularly important, given the sharp drop in the oil price over the last week.

Saudi Arabia's energy minister, Prince Abdulaziz bin Salman, said yesterday that the world's top crude oil exporter has fully restored oil output after attacks on its facilities last month knocked out more than 5% of global oil supply. 

Recent data showing a slowdown in US shale output and drilling activity, however, could lend some support.