Crude oil outlook turns bearish as OPEC+ eyes a July output hike and U.S. inventories climb, raising fresh concerns about oversupply and weak oil demand.

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 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,