Mubasher: Oil prices witnessed its first weekly decline since September with growing doubts in global markets regarding the ability of major producers to reach an output reduction agreement in Vienna.
West Texas Intermediate (WTI) went down 2% on Friday, and closed at $48.73 per barrel (pb), seeing its first weekly loss since mid September with 4%.
Brunt crude oil futures also decreased by 1.57% to the level of $49.68pb, registering a weekly decline by 3.5%.
