Doha: Oil prices ended slightly higher but finished the week lower, breaking a streak of four consecutive weeks of gains. This came after US President Donald Trump announced plans to boost domestic production and urged OPEC to take action to lower crude prices.

According to Qatar News Agency, Brent crude futures rose by 21 cents, or 0.27 percent, settling at $78.50 per barrel, while West Texas Intermediate (WTI) crude added 4 cents, or 0.05 percent, to $74.66. However, Brent still saw a weekly loss of 2.8 percent, while US crude dropped 4.1 percent.

President Trump reiterated his call on Friday for OPEC to cut crude prices in an effort to weaken Russia's financial position and help end the war in Ukraine.

Meanwhile, US Energy Information Administration (EIA) reported that the country's crude oil inventories hit their lowest level since March 2022 last week.