Oil prices fell on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers during talks next month, and as analysts pointed to an ongoing supply overhang that was weighing on markets.
International benchmark Brent crude oil prices were trading at $49.40 per barrel at 0632 GMT, down 27 cents from their previous close.
U.S. West Texas Intermediate (WTI) crude was down 15 cents at $47.18 a barrel.
