Plagued by renewed pressure on supply due to a possible further increase in OPEC+ production in July, oil prices fell for a fourth consecutive session on Friday and are expected to see their first weekly drop in three weeks.

Brent futures fell by 31 cents, or 0.5%, to 64.13 dollars per barrel at 04:12 GMT. West Texas Intermediate U.S. crude futures lost 33 cents, or 0.5%, to $60.87. Over the week, Brent fell by 1.9% and WTI by 2.5%, after two weeks of gains. Both contracts hit their lowest level in more than a week on Thursday after a Bloomberg News report that OPEC+ was considering another major increase in production at a meeting

In a research note, analysts at ING indicated that “the oil market is under renewed pressure as rumours mount about what OPEC+ will do with its July production levels.”