Oil prices were little changed on Friday ahead of a key meeting of major oil producing nations next week, with Brent sitting below the $50 per barrel level that was briefly breached for the first time in six weeks in the previous session. International benchmark Brent crude futures were at $49.28 per barrel 0501 GMT, down 2 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $46.89 per barrel, down 3 cents. During the previous trading session both benchmarks rose to their highest levels since early June in choppy trading, having been pushed higher by data showing U.S. crude and fuel inventories fell sharply last week.

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