Oil prices slip on economy fears, but OPEC cuts provide backstop
Oil markets fell on Friday, pulled down by worries over a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support.
U.S. West Texas Intermediate (WTI) crude futures stood at $52.17 per barrel by 0755 GMT, down 47 cents, or 0.9 percent, from their last settlement.
International Brent crude oil futures were down by 48 cents, or 0.8 percent, at $61.15 per barrel.
Weighing on financial markets, including crude oil futures, were concerns that trade disputes between the United States and China would remain unresolved, denting global economic growth prospects.
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