Investing.com – Oil was slightly higher Friday, but still remained on track to for its biggest weekly loss since mid-January.
U.S. crude was up 46 cents, or 1.07%, at $43.62 at 7:00 ET, while Brent crude gained 54 cents, or 1.19%, to $45.99.
Oil chalked up losses this week amid increasing scepticism among traders that the Organization of the Petroleum Exporting Countries (OPEC) and other producers such as Russia will agree to freeze production at a meeting in Algeria later this month.
Market participants were cautious on Friday ahead of the U.S. employment report for August.
A rate rise may strengthen the U.S. dollar, which could depress oil prices as it would make the greenback-denominated commodity more expensive for holders of other currencies.
Investors also looked ahead to the Baker Hughes U.S. rig count data for the latest week.
The number of rigs operating in the U.S. in the prior week was unchanged at 406, after having risen eight straight weeks in a row.