Oil prices fall on rising U.S. output speculation

Oil prices fell Friday after data suggested drilling is further recovering in the United States and an increasing U.S. output may follow.

The West Texas Intermediate for March Delivery erased 0.61 dollars to settle at 53.17 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery decreased 0.72 dollars to close at 55.52dollars a barrel on the London ICE Futures Exchange. Enditem