SINGAPORE (Reuters) — Oil fell more than $1 a barrel to below $54 on Friday, as OPEC ministers prepared to meet in Cairo on Saturday to discuss falling prices and another potential supply cut amid weakening oil demand.
U. S. light crude for January delivery fell to $53.35 a barrel by 1:48 a. m. GMT (8:48 p. m. EST), down $1.09 versus Wednesday's close.
The NYMEX trading floor was closed on Thursday due to the U. S. Thanksgiving holiday.
London Brent crude was down 41 cents a barrel at $52.72, having settled 79 cents lower on Thursday.
(Reporting by Maryelle Demongeot; Editing by Ben Tan)
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