Oil holds steady on prospect of OPEC+ output cut, weaker dollar
Oil prices were little changed during Asian trade on Friday, though were headed for their first weekly gain in five weeks, underpinned by a weaker US dollar and the possibility that OPEC+ may agree to cut crude output when it meets on October 5.
Brent crude futures for November, which expire on Friday, inched down 10 cents or 0.1 per cent to $88.39 a barrel, after losing 83 cents in the previous session. The more active December contract was unchanged at $87.18.
US West Texas Intermediate (WTI) crude futures for November delivery rose 0.1 per cent or by 9 cents to $81.32 a barrel, after falling 92 cents in the previous session.
