Oil prices have again ended lower on increased concerns about growth in US production and inventories, despite expectations that major world producers will extend a supply-cut deal later in November.

Brent crude futures settled 51 cents, or 0.8 per cent, lower at $US61.36 per barrel, running its streak of losses to five straight days. US light crude fell for a fourth consecutive session, ending down 19 cents, or 0.3 per cent, at $US55.14 a barrel.

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