LONDON: Oil prices fell on Friday as analysts continued to forecast a supply surplus in 2025 despite the OPEC+ decision to postpone planned supply increases and extend deep output cuts to the end of 2026, according to Reuters.
Brent crude futures were down 66 cents, or 0.9 percent, to $71.43 per barrel at 2:28 p.m. Saudi time. US West Texas Intermediate crude futures were down 65 cents, or 1 percent, to $67.65 per barrel.
For the week, Brent was on track to fall 2 percent, while WTI was on course for a 0.5 percent drop.