Oil prices fell further on Thursday as swelling inventories depressed sentiment despite widespread expectations that the Organization of Petroleum Exporting Countries (OPEC) and Russia will agree on some form of production cut next week.
Brent futures fell 98 cents, or 1.7 percent, to $58.53 a barrel.
U.S. crude dropped $1.16, or 2.2 percent, to $50.29 a barrel.
Both contracts were on course for their eighth consecutive week of falls, with Brent on track to drop 11.9 percent and U.S. crude 10.7 percent.
Edited by Jesus Chan
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