SINGAPORE: Brent crude Friday further slipped to $77.04 just nearing a four-year low as worrying Organization of the Petroleum Exporting Countries (OPEC) countries are trying to tackle the fall in prices when they will meet in Vienna on Nov 27
On the other hand, Saudi Arabian Oil Minister Ali al-Naimi has ruled out a cut in output. Oil prices have plunged 30 per cent since June.
Brent has dropped for eight weeks in a row, its longest weekly losing streak since records began in 1988. It has lost nearly 7 percent so far this week.
Brent futures dropped 45 cents to $77.04 a barrel as of 0735 GMT. The December contract expired on Thursday, settling down $2.46 at $77.92 after touching an intraday low of $77.83, lowest since September 2010.
US crude for December delivery fell 81 cents to $73.40 a barrel after closing down $2.97, or almost 4 percent, on Thursday.
The 120,000 barrel-a-day Hariga oil port in eastern Libya has reopened after state security guards ended a protest over unpaid wages, a port source said on Thursday, but the El Sharara oil field remains shut.
