London March 3 2023: Oil prices slumped on Friday after the Wall Street Journal reported that the United Arab Emirates had an internal debate about leaving the Organization of the Petroleum Exporting Countries and pumping more oil.
Brent crude futures fell $1.57, or 1.8%, to $83.18 a barrel by 1412 GMT. U.S. West Texas Intermediate (WTI) crude futures were down $1.52, or 1.9%, at $76.64.
Oil prices this week had been boosted by strong Chinese economic data, underpinning hopes for oil demand growth, but those gains were all but erased on Friday.
