With at least one energy expert saying crude oil prices are dangerously close to no longer being profitable for oil producers, crude oil prices closed down on Friday.
The expert, Dwight Scott, executive vice chairmanof Quantum Capital Group made the remarks in an interview with Bloomberg TV, reported Business Insider.
Brent crude, the international standard finished down 15 cents or 0.2% to close at $69.37 per barrel.
West Texas Intermediate crude,the US benchmark, dropped 16 cents or 0.2% to close at $67.38 per barrel.
Both benchmarks, according to reports, finished down about 1% for the week. For the year, U.S crude prices are down about 8%.
Natural gas finished at $3.57 per million British thermal units, a 7.57% increase for the week.
A majority of Oklahoma energy stocks finished in negative territory on Friday. Stardust Power led the way with an 8% decline for the day followed by Empire Petroleum with a more than 6% loss.
ONEOK led gainers with a nearly 3% increase.
Alliance Resource Partners LP