Crude oil futures ended lower on Friday as rising domestic crude inventories, the potential for revived Iran nuclear talks, and a retreat by natural-gas futures dragged crude prices further away from multiyear highs. Investors are eyeing the OPEC meeting. The Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, a group called OPEC+, will meet on November 4 to decide on crude output. The group is widely expected to stick to its plan to add 400,000 barrels per day of supply each month until April 2022. Meanwhile, a report from Baker Hughes said the number of rigs drilling for oil in the U.S. rose by one in the latest week to 444. The oil-rig count is up by 221 from a year earlier.
Benchmark crude oil futures for December delivery rose 76 cents or about 0.9% to settle at $83.57 a barrel on the New York Mercantile Exchange. Besides, Brent crude for December delivery added 6 cents or 0.1 percent to settle at $84.38 a barrel on London's Intercontinental Exchange.