Oil prices on Friday fell to their lowest this year, on course for their biggest one-month decline since late 2014 when OPEC opted to pump as much crude as it could to gain market share and sent prices on a near-unbroken two-year slide.

Brent crude prices, in intra day trade today, were trading around 60 dollars and 80 cents while WTI prices were at around 52 dollars and 20 cents when reports last came in.