Brent crude futures rose 22 cents to $76.15 a barrel by 14:37 GMT after settling at their highest since Oct. 25 on Thursday.
US West Texas Intermediate (WTI) crude rose 44 cents, or 0.6 percent, to $73.57 a barrel.
Brent is on track to gain 2.7 percent, while US crude is on track to gain 4.2 percent this week.
Signs of fragility in China’s economy have raised expectations of measures to boost growth in the world’s biggest oil importer.
“With China’s economic trajectory set to play a pivotal role in 2025, hopes are pinned on government stimulus measures to boost consumption and boost oil demand in the coming months,” said Alex Hodes, an analyst at StoneX.
This week, China announced new measures to boost its economic growth with a surprise move to raise government wages and a big increase in funding from long-term Treasury bonds.
The additional funding will be used to stimulate business investment and consumption-boosting initiatives.
Oil prices are likely to get some support from forecasts of cold weather in some regions.
“Oil demand is likely to benefit from cold temperatures across Europe and the United States,” said Giovanni Staunovo, an analyst at UBS.
U.S. Energy Information Administration data showed crude inventories fell by 1.2 million barrels to 415.6 million barrels last week, giving oil prices some support this week.
U.S. gasoline and distillate stockpiles jumped as refineries ramped up output, but fuel demand hit a two-year low.
