Oil futures edge lower in Asia on sluggish demand growth concerns

London (Quantum Commodity Intelligence) - Oil futures eased lower late afternoon Asian trading Friday, as the stuttering demand recovery and OPEC+ output increases from May continued to drive sentiment.

Brent futures for June crude were trading $662.82/b, down $0.37/b at 1600 Singapore (0800 GMT, while May WTI was $0.18/b lower at $59.42/b.

Both Brent and WTI are on course to post weekly losses of over 2%, after last week's decision by OPEC+ producers to gradually increase hike output from May.

The weaker dollar, however, is lending some support with ANZ bank noting: "A weaker USD and falling US bond yields helped support investors' appetite in commodity markets," ANZ analysts said in a note.

The lower dollar typically supports oil prices, which is traded in USD on international markets.