Brent was up 45 cents, or 1.5 per cent, at $31.42 a barrel at 0830 GMT, having risen in the past six sessions.
Nonetheless, with Australia on Friday becoming the latest country to enact an easing of lockdowns, and France, parts of the US and Pakistan planning to ease restrictions, Brent settled up $1.51, or 5.1 percent, at $30.97 per barrel, while West Texas Intermediate gained $1.19, or 5 percent, to $24.74 per barrel.
"And the one that would hurt the most would be for China to reduce imports of U.S. oil".
U.S. and Brent benchmarks have rallied sharply this week as countries have eased coronavirus-related lockdowns and fuel demand has rebounded modestly.
"The road to rebalancing the oversupplied market is starting to happen", said Phil Flynn at Price Futures in Chicago.
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Analysts at Rystad Energy projected global oil demand would decrease 10.9% in 2020 to 88.7 million barrels per day (bpd) from around 99.5 million bpd in 2019.
"Oil prices should eventually settle on a wide $10 range, with WTI crude's upper boundary being around the $30 a barrel level, while Brent crude targets the $35 a barrel level", said Edward Moya, senior market analyst at OANDA. He said price support this week also came from increased economic activity in China and from the Saudis raising their official selling price for oil, "a sign that they are confident they can move that oil".
Also coming to light on Friday was the mainstream media's role in causing the panic that facilitated the government lockdowns in the first place: Nate Silver, editor of FiveThirtyEight, blamed media for not giving proper context to stories on the rise of coronavirus cases, which he called a "basic error" revealed an agenda to prioritize narratives that "sound smart" over accuracy and truth.
Gasoline stocks, however, fell for a second week as some USA states eased lockdowns that had sharply hit traffic.
"Nascent signs of rebounding gasoline demand in the USA and a rapid curtailment of oil production that has seen US producers cut over one million barrels per day of output in a matter of weeks has enabled oil prices to recover", Again Capital's John Kilduff tells CNBC.