Oil prices edged down on Friday and posted a third straight weekly loss as investors weighed OPEC+ reassurances against the latest U.S. jobs data that lowered expectations that the Federal Reserve will cut interest rates soon.

Oil futures declined on Friday to post losses for a third week in a row as traders looked to the latest monthly U.S. jobs data for hints on the outlook of the economy, the future of the Federal Reserve’s interest-rate decisions and the impact on energy demand.

Oil prices experienced relatively minor fluctuations on Friday but were poised to register a third consecutive weekly decline, as investors grappled with a confluence of factors influencing market sentiment.

Oil steadied on Friday as OPEC+ members Saudi Arabia and Russia indicated readiness to pause or reverse oil output increases, but crude was still headed for its third straight weekly loss on demand concerns.

Investing.com-- Oil prices stabilized Friday after strong U.S. jobs data, with traders weighing up the potential for interest rates to remain elevated for longer with healthy economic activity in the world's biggest consumer.

Oil prices saw an upward trajectory on Friday, propelled by a confluence of factors that underscored the intricate dynamics influencing global energy markets. This surge followed indications from pivotal OPEC+ members,

Investing.com-- Oil prices rose in Asian trade on Friday, extending a mid-week rebound after OPEC+ members sought to reassure markets over potential supply increases, while traders welcomed rate cuts in Canada and Europe.