Oil prices rebounded on Friday after Russia’s deputy prime minister suggested oil cartel Opec+ could reverse a plan to increase crude production. Alexander Novak said that while Opec+ would proceed with a plan to start pumping more oil in April, the group could “always play in the other direction” if the market became oversupplied.

Oil prices gain despite OPEC+ production increases, while natural gas futures surge due to cold weather and supply concerns.

Crude oil finished with another week of losses, as markets were pushed and pulled by OPEC's decision to go ahead with production increases starting in April and uncertainty over U.S. tariffs.