Oil prices stood near a one-week high on Friday as global equities headed for their biggest weekly gain in six years as the dollar slipped to a three-year low.
U.S. West Texas Intermediate crude for March delivery ended Friday's session up 34 cents at $61.68 a barrel. For the week, the U.S. crude contract rose 4.2 percent after losing nearly 10 percent last week.
London Brent crude rose 37 cents to $64.70 by 2:03 p.m. ET, on track for a roughly 3-percent weekly gain after falling more than 8 percent last week.
"Oil is getting support from a rebound in global stock markets and a weak dollar, but the upside is limited due to a projection for rising U.S. production," said Tomomichi Akuta, senior economist at Mitsubishi UFJ Research and Consulting in Tokyo.