Crude prices fell on Friday ahead of the weekend after yesterday's climb, as wavering continues due to conflicting factors on prices.
U.S. crude futures last traded at $53.13 a barrel, down from the opening of $53.43, with an intraday high at $53.50, and a low at $52.87.
Crude's decline comes as U.S. shale production increases, leading to surges in crude and gasoline inventories in recent weeks and causing oversupply concerns.
On the other hand, the dollar rose against a basket of currencies away from a one-week low hit yesterday, as odds rise of another rate hike in the Federal Reserve's next meeting, hurting the greenback-denominated crude futures.
Crude's decline was limited however, and within its recent range, after OPEC left the door open for more production cuts to underpin prices.