SINGAPORE: Oil prices dropped on Friday on the prospect that the OPEC+ supplier alliance might step up a planned increase in output to ease supply concerns, with soaring gas prices spurring power producers to switch from gas to oil.
Brent crude futures fell 12 cents, or 0.2%, to $78.19 a barrel at 0638 GMT, but were still heading for a small rise on the week, marking a fourth straight week of gains.
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