European stock markets drifted lower Thursday, trading in a subdued manner ahead of the key monthly US jobs report amid renewed concerns over the prospects for the world’s largest economy.

Japan stocks were lower after the close on Thursday, as losses in the Precision Instruments, Mining and Chemical, Petroleum & Plastic sectors led shares lower.

Oil prices edged up after plunging to multi-month lows previously as major producers may delay an output increase planned for next month and U.S. inventories fell, though the gains were limited by persistent demand concerns.

Japanese equities experienced a selloff on September 4, which was a continuation of the market's reaction from an early August decline and subsequent recovery.

Oil was attempting to hold its line in early trade on Thursday after an overnight sell-off, as players grappled with weak demand alongside a possible delay to more supply entering the market next month.

Johnson & Johnson plans to pay an additional $1.1 billion to resolve tens of thousands of legal actions alleging its baby powder and other talc products caused cancer, two people familiar with the matter said.