Oil muted on Friday but poised for a fourth consecutive week of drop as hints of concerns about weak global fuel demand overshadowed fears of supply disruptions in the Middle East.

Brent crude edged up by 0.2%, at $79.70 per barrel, while US WTI added 0.2% to $76.47 per barrel.

Both dropped over 7% during the earlier four weeks, marking the biggest losses of the year.

Economic data from China, combined with a survey revealing weaker manufacturing activity in Asia, Europe, and the United States, has heightened concerns about a sluggish global economic recovery, which could impact oil consumption negatively

The decline in manufacturing activity in China further pressured prices, intensifying worries about demand growth, especially after June data revealed that imports and refinery activity were lower compared to the previous year.

Data from LSEG Oil Research indicated that Asia's crude oil imports in July dropped to their lowest level in two years, driven down by weak demand from China and India.

During OPEC+ meeting on Thursday, the group decided to maintain its current oil output policy, which includes a plan to start rolling back one tier of production cuts beginning in October.