Nymex Oil Futures Slip Below $44 a Barrel On Saudi Output Fears

Oil futures extended losses Friday after Reuters, citing an unnamed OPEC official, reported that Saudi Arabia threatened to raise output if Iran refuses to cap its own production. December West Texas Intermediate oil futures on the New York Mercantile Exchange fell 98 cents, or 2.2%, to $43.68 a barrel and were on track for a more than 10% weekly decline.

Copyright © 2016 MarketWatch, Inc.