Crude oil fell on Friday after Goldman Sachs slashed its price forecast through next year, while global equity markets traded mixed on worries over the economic outlook and whether the Federal Reserve will raise interest rates next week.
U.S. crude futures' front-month contract settled down $1.29 at $44.63 a barrel. The front-month in Brent, the global benchmark for oil, slid 75 cents to settle at $48.14.
Earlier Friday, data showed U.S. energy firms cut oil rigs for a second week in a row, a sign the latest price declines may be causing some drillers to put on hold their recently announced plans to return to the well pad.
Drillers removed 10 rigs in the week ended Sept. 11, bringing the total rig count down to 652, oil services company Baker Hughes said in its closely followed report. At this time last year, drillers were operating 1,592 oil rigs.
Energy companies removed 13 rigs in the week ended Sept. 4, after adding rigs in six of the past eight weeks.