Crude Oil Eases On Record U.S. Production, OPEC Supply Hopes

Crude oil futures lost more ground on Friday, with the U.S. market set for a second week of decline on pressure from record U.S. production and expectations of OPEC boosting output.

U.S. West Texas Intermediate crude lost 16 cents, or 0.2 percent, to $66.88 a barrel by 0423 GMT, after falling almost 2 percent on Thursday.

Global benchmark Brent crude, which was little changed in the previous session, was down 9 cents, or 0.1 percent, to $77.47 per barrel.

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Suhani Verma

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