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Oil prices fell for a third day on Friday, on course to end the week lower, as investors focused on expectations of higher supplies from Libya and the broader OPEC+ group of oil exporters.

Oil prices fell for a third day on Friday, on course to end the week lower, as investors focused on expectations of higher supplies from Libya and the broader OPEC+ group of oil exporters.

Brent crude futures fell 57 cents, or 0.8%, to $71.03 per barrel by 0036 GMT, while U.S. West Texas Intermediate crude futures were down 58 cents, or 0.9%, to $67.09 a barrel.

On a weekly basis, Brent crude was set to shed about 4.6%, while WTI is on track to slide 6.6%.

"The big-ticket items on the markets radar this week have been Libya and OPEC+," analysts at FGE Energy told clients on Thursday.

Rival factions staking claims for control of the Central Bank of Libya signed an agreement to end their dispute on Thursday. The dispute had caused a sharp reduction in oil production and exports in the country, with crude exports down to 400,000 barrel per day this month, from over 1 million barrels last month.

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