Crude futures settle lower as U.S. oil-rig count climbs, jobs skid

Oil futures on Friday settled at their lowest level in more than a week as an increase in the number of active U.S. oil rigs implied higher crude output and weak U.S. employment data raised concerns over the outlook for energy demand.

Oil traders had already been showing disappointment after major crude producers failed to set a cap on output at a key meeting in Vienna on Thursday.

Prices managed to get a brief boost early Friday as the U.S. dollar plunged on the back of much weaker-than-expected U.S. jobs data, but took a leg lower as the data suggested a lower demand outlook and a report showed additions to the active U.S. rig count.

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