March 6 Reuters Oil prices rebounded slightly on Wednesday after extended declines as signs of supply tightness amid output cuts by major producers overrode demand growth concerns in China and the U.S., the world39;s two biggest crude consumers.

Brent crude futures were up 17 cents to 82.21 a barrel at 0440 GMT after falling in the previous four sessions, while U.S. West Texas Intermediate crude futures rose 19 cents to 78.34 a barrel, after declining the past two days.

China39;s economic growth target for 2024 of around 5 set on Tuesday lacked bigticket stimulus plans to prop up the country39;s struggling economy, which increased concerns that demand growth in the country may lag this year.

The market wanted more details on how China intends to achieve its 5 growth target for 2024 and specifically was hoping to see further fiscal expansion to help meet the growth target, said Tony Sycamore, a market analyst at IG in Sydney.

Markets are looking ahead to U.S. Federal Reserve Chair Jerome Powell39;s semiannual monetary policy testimony to Congress on Wednesday and Thursday and Friday39;s U.S. employment data, Sycamore said.

Friday39;s U.S. nonfarm payrolls data is expected to show an increase of 200,000 jobs in February after surging 353,000 in January, according to a Reuters survey of economists.

Powell39;s comments and the jobs data could provide clearer direction on U.S. interest rates, and signs of a Fed cut would be seen as positive for the economy and oil…