Oil drops amid OPEC comments and concerns over global demand

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Source: Marketwatch

Oil futures fell on Friday, with the latest OPEC comments weighing on prices, however both crude benchmarks are likely to book weekly profit. Futures for WTI were traded 1.22% lower at $46.31 per barrel, while Brent futures declined 0.65% to 448.76 per barrel by 07:21 AM GMT. Meanwhile, officials in Kuwait, a key producer of the OPEC, said that they support the group's policy of defending market share despite declining oil prices. 

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