Oil Prices Drop as US Output and Opec Exports Rise
Oil prices edged lower on Friday and were on track for weekly losses, weighed down by rising Opec exports and strong output from the US.
Brent crude futures, the international benchmark, were trading at $51.61 a barrel at 9.58am GMT, 40c below the last close and heading for a fall of more than 1.5% on the week.
US West Texas Intermediate (WTI) crude futures were 40c lower at $48.63 a barrel and were set to drop by just more than 2% for the week.