04:59 AM EDT, 08/29/2025 (MT Newswires) -- Crude oil prices dropped on Friday as the market's focus shifted back to the Organization of the Petroleum Exporting Countries and allied producers' output hikes and an upcoming meeting of the producer group next week.

Brent crude at last look lost 0.6% to US$68.21/barrel and West Texas Intermediate crude fell 0.6% to US$64.22/b. Both benchmarks are expected to record a weekly gain, driven by Ukrainian attacks on Russian energy facilities earlier in the week, Reuters said in a Friday report.

The OPEC+ output hikes raised the global supply outlook, weighing on global oil prices, the report said. This was exacerbated by the approaching end of the U.S. summer driving season, which means lower demand for fuel.

However, U.S. crude inventories for the week ended Aug. 22 showed a higher-than-expected decline, indicating that late summer demand remained strong, Reuters quoted SEB bank analyst Ole Hvalbye as saying.