Oil prices slump as OPEC and Russia consider output boost

Russia says oil output cuts likely to be eased at June meeting

New York: Oil prices fell about $3 per barrel on Friday as Saudi Arabia and Russia discussed easing supply curbs that have helped push crude prices to their highest since 2014.

Brent crude futures fell $2.69, or 3.4 percent, to $76.10 a barrel by 1:07 p.m. EDT (1707 GMT). The contract hit its highest since late 2014 at $80.50 last week. Brent was on track to fall about 3.1 percent this week, which would be its largest weekly percentage loss since early April.

U.S. West Texas Intermediate (WTI) crude fell $3.04 to $67.67 a barrel, a 4.3 percent loss. Following six weeks