Crude oil settled lower for a third straight day as the possibility of another large production increase by OPEC+ for July added to concerns that global supply could outpace demand growth.

Oil prices settled lower on Thursday as investors weighed a report that OPEC+ is discussing a production increase for July, stoking concerns that global supply could outpace demand growth.

Oil prices were lower on Friday, heading for their first weekly loss in a month, after reports that Opec+ is planning to boost supply again in July. Brent, the benchmark for two thirds of the world's oil,