Oil prices edged higher today amid release of the U.S. employment data, but was on track for a heavy weekly loss as demand concerns offset a delay to supply increases by OPEC+ producers.

In the global crude market, Brent crude was trading 0.77 percent up at 73 dollars and 25 cents per barrel. The U.S. West Texas Intermediate (WTI) was also trading nearly one percent up at 69 dollars and 77 cents per barrel, when reports last came in.