Investing.com - Oil edged lower Friday ahead of the latest U.S. rig count data.
U.S. crude was off 9 cents, or 0.18%, at $50.62 at 08:00 ET. Brent crude shed 4 cents, or 0.08%, to $52.95.
Oil settled lower the previous session amid concerns about increased U.S. output and remains on course for losses for the week.
Higher U.S. output offsets the positive impact of a possible extension of an output cut deal by major producers.
OPEC and non-OPEC producers are cutting production by 1.8 million barrels a day in the first half.
A decision on a possible extension of that deal is expected to be taken on May 25.
Baker Hughes is due to release the latest weekly U.S. rig count.
The rig count has risen for 13 weeks in a row.
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