SINGAPORE: Oil prices dipped lower on Friday as investor concerns about high US crude exports outweighed an unexpected drop in oil inventories in the world鈥檚 biggest fuel consumer.
US West Texas Intermediate (WTI) crude futures were at $62.74 a barrel at 0750 GMT, down 3 cents from their last settlement. Brent crude futures were down 2 cents at $66.37 a barrel.
WTI was still on track to rise about 1.7 percent for the week, and Brent was up 2.2 percent, with both contracts set for their second weekly gains after falling steeply early in the month.
Friday鈥檚 dips followed gains during the previous day when the Energy Information Administration (EIA) said US crude stockpiles
Oil pressured by high US crude exports
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