JAKARTA/SINGAPORE (Reuters): Oil prices fell over 1% lower on Friday evening (May 2) and recorded for their biggest weekly losses since the end of March, as traders turned cautious ahead of an OPEC+ meeting to decide the group's output policy for June.
USWest Texas Intermediate crude futures settled 95 cents, or 1.6%, to settle at US$58.29 a barrel. Brent crude futures closed down 84 cents, or 1.4%, at US$61.29 a barrel.
