Mubasher: Oil futures grew at Friday’s finish, rising 3.6% for the week.

November Nymex WTI increased by $1.15, or 2.2%, to close at $54.70 per barrel.

The International Energy Agency (IEA) on Friday downgraded its projections for global oil demand next year, citing gloomy growth outlook, according to energy information platform S&P Platts.