Investing.com - Oil edge lower Friday as U.S. crude Friday held above $50 on hopes of a cut in OPEC output next month.
U.S. crude was down 15 cents, or 0.30% at $50.29 at 06:45 ET, while Brent crude fell 0.48% to $52.26.
OPEC members are scheduled to meet November 30 in Vienna to discuss the details of an agreement to cut output to 32.5-33 million barrels per day.
The Algerian Energy Minister said Thursday OPEC may cut output by more if needed to stabilize the market.
Baker Hughes U.S. rig count data are due out later in the session.
There are concerns that higher prices could spark more activity in the U.S. shale sector.
The dollar index was up 0.33% as sterling slumped overnight. A stronger dollar weakens demand for oil.