Crude oil futures ended lower on Friday, as worries about the outlook for energy demand due to rising coronavirus cases and delays in vaccine supplies weighed on prices. Oil prices were also weighed down by uncertainty about additional stimulus from the Biden administration happening anytime soon. However, stronger than expected GDP data from Germany and France limited oil's downside. Meanwhile, according to Baker Hughes, the number of active US rigs drilling for oil rose by six to 295 this week, rising for the ninth straight week. The total active US rig count rose to 384, adding six this week.
Crude oil futures for March fell $0.14 or 0.3 percent to settle at $52.20 barrel on the New York Mercantile Exchange. March Brent crude declined $0.16 or 0.29 percent to settle at $54.94 a barrel on London's Intercontinental Exchange.