Crude oil prices were mixed at opening on Friday as economic slowdown concerns continue to weigh on global oil demand, while OPEC and allies are expected to lower the market glut through deeper production cuts to push prices higher.
International benchmark Brent crude was trading at $61.48 per barrel at 0700 GMT with a 0.09% gain after closing Thursday at $61.42 a barrel.
American benchmark West Texas Intermediate, on the other hand, declined by 0.13% to $56.05 a barrel over the same time frame from $56.12 during the previous session.
Employment in Germany's private sector decreased in October, marking the first decline in the last six years, according to the IHS Markit's Purchasing Managers' Index on Thursday.
A potential slowdown in Europe's largest economy intensified concerns that the German economy, a major energy consumer, could see its oil demand lower for the remainder of the year.
On the supply side, OPEC and non-OPEC oil producing nations are expected to make deeper cuts in their production levels in December to trim some of the oversupply in the market and push prices higher.
By Ovunc Kutlu