Oil Futures Barely Budge For The Session, Lose 0.9% For The Week

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures added a few pennies on Friday, but ended the week with a loss for the first time in three weeks. Traders weighed pressure from rising U.S. crude production and supplies against support from sizable production cuts among members of the Organization of the Petroleum Exporting Countries. March West Texas Intermediate crude rose 4 cents, or less than 0.1%, to settle at $53.40 a barrel. Prices lost roughly 0.9% for the week, according to FactSet data.

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