Oil was on track for the biggest weekly decline since late June, ahead of an OPEC+ meeting that’s expected to result in the return of more idled barrels, exacerbating concerns around oversupply.
Brent edged higher toward $65 a barrel on Friday, but was still down around 8% for the week. West Texas Intermediate traded near $61. The group is scheduled to meet on Sunday to decide on output for November, and could discuss fast-tracking supply hikes as the alliance seeks to reclaim market share.