In Asian trading on Friday, oil prices declined further following a significant drop in the previous session. Traders were eagerly awaiting additional information on OPEC's intentions regarding future production cuts, while apprehensions over the U.S. debt ceiling added to market uncertainty.
Brent oil futures slipped by 0.5% to reach $75.83 per barrel, and West Texas Intermediate crude futures decreased by 0.4% to $71.56 per barrel as of 09:57 AM (China Standard Time GMT+8). Although both contracts were on track to finish the week with slight gains.
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