By Adedapo Adesanya

Oil rose about $1 a barrel on Friday as China’s economic outlook improved and boosted expectations for fuel demand in the world’s second largest economy.

Brent crude settled at $87.63 a barrel after rising $1.47, or 1.7 percent, while US crude settled at $81.31 a barrel, after rising 98 cents, or 1 .2 percent.

As a result, the benchmarks posted a second straight weekly gain. For the week, Brent was up 2.8 percent as…