Oil prices turned bearish during Friday’s trading, continuing the volatile situation that controls crude, as demand and supply developments await.
Brent crude had risen earlier in the session, surpassing the $ 51 level, before falling to this level.
Oil is poised to record gains of around 3% this week, supported by a drop in US inventories more than expected last week, and speculation that OPEC and outside producers agreed to extend production cuts.
Baker Hughes later announced the development of a number of oil drilling platforms in the United States.
Brent crude futures fell 0.5% to $ 50.49 a barrel at 4:05 pm GMT.
US crude fell 0.6% to $ 47.54 a barrel.

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