Oil prices dip on stronger US$, rig count rise

New York

OIL prices fell slightly on Friday as traders balanced a stronger US dollar and another increase in the US oil rig count against expectations that more Opec talk of output cuts will keep crude above US$50 per barrel.

The US dollar posted its best weekly performance in more than seven months against a basket of currencies, weighing on prices of greenback-denominated commodities, including crude oil.