Oil prices fell after the statement of the Russian Minister of Petroleum weakened hopes for a production cut agreement.

Earlier Friday, oil prices briefly rose after the US Labor Department report that showed an increase in the number of jobs to 156,000, while economists had expected 175 000. The dollar index was down by 0.12%, while the earlier on Friday it was in positive territory.

In recent months, oil prices are highly dependent on the US currency. A weaker dollar typically makes oil more attractive in price to holders of other currencies.

Recently, however, traders in the oil market are increasingly watching OPEC and its plans to reduce production. Despite doubts about some of the particulars of the agreement and skepticism about the readiness of the cartel to implement it, oil has risen to the highest levels since June.

The cost of the November futures for US light crude oil WTI fell to 49.96 dollars per barrel on the New York Mercantile Exchange.

November futures price for North Sea petroleum mix of Brent crude rose to 51.89 dollars a barrel on the London Stock Exchange ICE Futures Europe.