Oil prices were mixed on Friday after falling in the previous session as US President Donald Trump urged the Organisation of Petroleum Exporting Countries to lower crude prices ahead of its meeting in Algeria this weekend.
International benchmark Brent crude for November delivery was up at $79.40 a barrel.
US West Texas Intermediate crude for October delivery fell 8 cents to $70.24 a barrel.
Trump called on OPEC to lower prices.
He said on Twitter: “They would not be safe for very long without us, and yet they continue to push for higher and higher oil prices.”
OPEC and its allies are scheduled to meet on Sunday in Algeria to discuss how to allocate supply increases to offset a shortage of Iran supplies due to US sanctions.
Brent has been trading just below $80 a barrel, backed by concerns of supply shortages from looming US sanctions against Iran, which are set to take effect in November.
Although supply worries have pushed up oil prices, OPEC and its allies were not likely to agree to an official increase in crude output at this weekend’s meeting, OPEC sources said.
Reuters/NAN.