HOUSTON- Oil prices settled higher on Friday but fell on the week as investors weighed expectations for higher global supply against fresh stimulus from top crude importer China.

Brent crude futures settled up 38 cents, or 0.53 percent, at $71.89 per barrel. Front-month US West Texas Intermediate crude futures settled up 51 cents, or 0.75 percent, at $68.18.

On a weekly basis, Brent settled down around 3 percent, while WTI fell by around 5 percent.

China’s central bank on Friday lowered interest rates and injected liquidity into the banking system, aiming to pull economic growth back toward this year’s target of roughly 5 percent.

More fiscal measures are expected to be announced before Chinese holidays starting on Oct. 1 after a meeting of the Communist Party’s top leaders showed an increased sense of urgency about mounting economic headwinds.

“Despite aggressive Chinese stimulus, concerns of oversupply from OPEC’s plan to bring production back have pushed prices lower,” analysts at Aegis Hedging said in a note on Friday.

The Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, will go ahead with plans to increase production by 180,000 bpd each month starting from December, two OPEC+ sources said.

A Financial Times report on Wednesday said the planned increase is due to Saudi Arabia’s decision to abandon a $100 oil price target and gain market share.

Saudi Arabia has repeatedly denied targeting a certain oil price, and sources at the wider group told Reuters that the plans to raise output from December do not represent any major change from existing policy.