SINGAPORE, Feb 6 Reuters Oil prices inched up on Monday after falling 8 last week to more than threeweek lows as concerns that slower growth in major economies may limit fuel consumption outweighed signs of a demand recovery in China, the world39;s top oil importer.

Brent crude futures rose 32 cents, or 0.4, to 80.26 a barrel at 0700 GMT, while U.S. West Texas Intermediate WTI crude futures climbed 22 cents, or 0.3 higher, to 73.61.

Last Friday, WTI and Brent slid 3 after strong U.S. jobs data raised concerns that the Federal Reserve would keep raising interest rates, which in turn boosted the dollar. The stronger greenback typically reduces demand for dollardenominated oil from buyers paying with other currencies.

While recession fears dominated the market last week, on Sunday International Energy Agency IEA Executive Director Fatih Birol highlighted that China39;s recovery remains a key driver for oil prices.

The IEA expects half of global oil demand growth this year will come from China, where Birol said jet fuel demand was surging.

He said depending on how strong that recovery is, the Organization of Petroleum Exporting Countries OPEC and allies, together called OPEC, may have to reassess their decision to cut output by 2 million barrels per day through 2023.

If demand goes up very strongly, if the Chinese economy rebounds, then there will be a need, in my view, for the OPEC countries to look at their output policies, Birol told Reuters on the sidelines of a…