London — Oil prices edged lower on Friday and were set for the biggest weekly losses in six weeks, over doubts about whether oil cartel Opec and nonOpec oil producers would be able to agree on an output cut big enough to curb a global glut, which has weighed on markets for two years. Experts from Opec and counterparts from other oil-producing nations such as Russia, started two-day negotiations on Friday over an output-capping agreement, expected to be presented at the end of November. Disagreements remain over which members should be exempt from a curb to reduce output to a range of 32.5-million barrels per day to 33-million barrels per day. Brent crude futures were down 16 US cents at $50.31 a barrel at 8.23am GMT on Friday. The contract was set to close the week more than 2% lower in its steepest weekly loss since mid-September. US West Texas Intermediate (WTI) crude was down 27c at $49.45 a barrel, also on track for its biggest weekly loss in six weeks. "Doubts linger about Opec...
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