Although oil prices remained stable on Friday, they were still headed for a weekly loss due to demand concerns sparked by macroeconomic headwinds and a second partial relaxation of Russia's fuel export restriction.

Brent futures advanced 0.18% at $84.22 per barrel, meanwhile U.S. West Texas Intermediate crude futures added 0.24%, at $82.51 per barrel.

With the condition that businesses sell at least 50% of their diesel production to the local market, Russia declared that its embargo on the export of diesel for supplies transported to ports by pipeline had been repealed.

In 2022, pipelines carried about 75 percent of Russia's 35 million tonnes of diesel exports.

On Friday, concerns that higher interest rates for longer could impede global development and hurt fuel consumption were the main factors pushing down Brent and WTI futures, which were expected to decrease by about 12% and 9% week over week, respectively.

Demand worries overshadowed Saudi Arabia's and Russia's assurances this week that the current voluntary supply cuts totaling 1.3 million barrels per day (bpd) will be maintained through the end of the year.