Oil prices fell on Friday on concerns that major producers will move ahead with plans to ease their supply cuts even as a spike in COVID-19 cases in Europe and the United States is curtailing demand in two of the world’s biggest fuel consuming regions.
Brent crude futures for December dropped 22 cents, or 0.5%, to $42.94 a barrel by 0154 GMT, while U.S. West Texas Intermediate (WTI) crude futures for November delivery slid 16 cents, or 0.4%, to $40.8 a barrel.
Both benchmarks fell slightly the previous day; however, they are headed for small gains for the week.
