Crude oil futures closed slightly lower on Friday, weighed down by concerns about the outlook for energy demand due to rising coronavirus cases and reports of fresh lockdown measures in several countries. Reports about the resumption of crude exports from Libya also weighed on oil prices. Meanwhile, recent data showing a drop in crude inventories in the US helped limit oil's decline a bit. According to Baker Hughes, the oil-drilling rigs count in the US moved up for the first time in three weeks, rising by 4 this week to 183.
Crude oil futures for October declined $0.06 or 0.2 percent to settle at $40.25 a barrel on the New York Mercantile Exchange. November Brent crude lower $0.07 or 0.2 percent to settle at $41.87 a barrel on London's Intercontinental Exchange.