Oil prices settled lower on Friday after OPEC announced it had agreed to roll over its policy of maintaining crude production in order to retain market share.
Also on Friday, oilfield services firm Baker Hughes reported its weekly count of U.S. oil rigs fell by 10 to a total of 545, compared with 1,030 a year ago. This is the third consecutive week of declines.
Internationally traded Brent was down 80 cents, or 1.8 percent, at $43.05 at 2:33 p.m. EDT, having fallen earlier this week to a low of $42.43, within cents of August’s 6-½ year trough.
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