Oil prices continue to decline ahead of a key OPEC+ meeting on production policy
Follow-up - INA
Oil prices continued to decline in trading on Friday, as markets awaited a meeting of OPEC+ members tomorrow to discuss production strategy.
US West Texas Intermediate (WTI) crude futures for July delivery fell 0.36% to $60.72 a barrel.
Brent crude futures for July delivery fell 0.28% to $63.97 a barrel, according to trading data.
Brent crude is heading for its second consecutive week of losses, with OPEC+ countries expected to increase production for July.
For his part, Robert Rennie, head of commodity and cardboard research at Westpac, said in a note: "The stage is set for another significant increase in production, which could exceed the 411,000 barrels per day increase agreed upon in the previous two meetings."
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