Oil prices remained stable on Friday but were poised for a weekly gain amid hopes of an economic recovery in China, driven by new fiscal stimulus efforts and revised growth forecasts.

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• Brent crude futures traded at $73.25 a barrel, down 1 cent, while WTI crude stood at $69.60, down 2 cents.
• On a weekly basis, Brent rose by 0.4%, and WTI by 0.2%, supported by optimism over China’s recovery.
• The World Bank revised China’s economic growth forecast for 2024 and 2025 but flagged concerns over low confidence and property sector challenges.
• China revised its economy’s size upwards by 2.7%, though it stated the change would not significantly impact 2023 growth.
• Chinese authorities announced 3 trillion yuan ($411 billion) in special treasury bonds for 2025 to stimulate economic expansion.
• U.S. crude inventories fell by 3.2 million barrels last week, according to the American Petroleum Institute report.
• Official inventory data from the Energy Information Administration is due later on Friday, delayed due to the Christmas holiday.
• Traders await EIA confirmation of crude stock declines, which could impact market sentiment further.