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Oil prices were little changed on Friday, but posted their second straight weekly loss as stockpiles rise around the world and fuel demand struggles to rebound to pre-coronavirus levels.

Both Brent and U.S. crude lost about 6% on the week after a series of signals that showed markets still have an abundance of supply. Saudi Arabia and Kuwait cut official selling prices to Asia, U.S. stockpiles rose and traders are booking vessels for storage.

Brent LCOc1 ended the session down 23 cents, or 0.6%, at $39.83 a barrel while U.S. crude CLc1 settled up 3 cents at $37.33 a barrel.

Coronavirus infections are growing in several countries, led by India, where the health ministry reported a record daily jump of 96,551 new cases on Friday, taking the official total to 4.5 million.

Reference: Reuters