Oil traded steady on Friday, though it was set for its biggest weekly drop in about a month over doubts that an OPEC-led production cut will restore balance to a market that has been dogged by oversupply for more than two years. Brent crude futures were at $52.99 per barrel at 0323 GMT, flat from their last close. Brent futures are set for a 5.2 percent weekly drop, the most since the week of March 10. U.S. West Texas Intermediate (WTI) crude futures were also almost unchanged, at $50.74 a barrel. WTI is set for a 4.6 percent weekly decline, also the most since March 10.

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