Oil prices on pace for largest weekly drop in a month

By Amanda Cooper, Global News, August 26, 2016 

The price of crude oil has fallen more than 3 percent so far this week, putting it on course for its largest one-week slide in a month.

Oil eased on Friday, on course for its largest weekly decline in a month after the Saudi energy minister watered down expectations that the world’s largest producers might agree next month to limit their output.

Brent crude futures were down 6 cents at $49.61 per barrel by 1339 GMT, having recovered from a session low at $49.12.

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