Oil prices advanced on Friday but were on track for a weekly loss on worries about the demand outlook.
Benchmark Brent crude futures climbed 1.8 percent to $90.79 a barrel, while crude futures were up 1.7 percent at $84.97.
Both contracts were on track to post losses of about 3 percent for the week, marking their second straight week of losses.
The Energy Information Administration report showed a large build-up of U.S. crude inventories of 8.8 million barrels last week, but analysts said the build was exaggerated by increased imports and ongoing releases from government emergency reserves.
U.S. Energy Secretary Jennifer Granholm said the Biden administration is weighing the need for further releases of crude oil from the nation's emergency stockpiles.
Prices drew some support from the latest threat from Russia to choke off oil and gas supplies if price caps are imposed.
EU ministers are meeting for emergency energy talks in Brussels today to consider a raft of measures to tackle the region's energy crisis.
The bloc is split on the price-cap plan, with Hungary warning that a proposed European price cap on Russian natural gas will result in an immediate cut-off in supplies to Europe by Moscow.
