Oil falls $2 a barrel on worries about OPEC+ supply and US jobs data: Report

Doha: Oil prices fell $2 a barrel on Friday around concerns of a possible increase in production by OPEC and its allies, while a weaker than expected...

Doha: Oil prices fell $2 a barrel on Friday around concerns of a possible increase in production by OPEC and its allies, while a weaker-than-expected US jobs report fed worries about demand.

Brent crude futures settled at $69.67 a barrel, down $2.03, or 2.83%.

US West Texas Intermediate crude finished at $67.33 a barrel, down $1.93, or 2.79%. Brent finished the week with a gain near 6%, while WTI rose 6.29%.

According to analysts at Al Attiyah Foundation, OPEC members and allied producers known as OPEC+ may reach an agreement as early as Sunday to boost production by 548,000 barrels per day in September.

Meanwhile, the US Labor Department said the country added 73,000 jobs in July, lower than economists had forecast, raising the national unemployment rate to 4.2% from 4.1%.