Reuters

The S&P 500 index and the Dow Jones Industrial Average dipped on Friday as a steep drop in oil prices weighed on energy stocks.

Oil prices fell below $78 a barrel on Friday as OPEC and Russia considered easing supply curbs to offset disruptions in Venezuela and an expected drop in Iranian exports.

Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil output by around 1 million barrels per day, sources familiar with the matter said.

World shares steadied and the dollar resumed its rise on Friday after a wobble caused by U.S. President Donald Trump’s decision to cancel a summit with North Korea.

Secretary Ross will visit China early next month amid ongoing trade frictions between the world’s two largest economies.

Asian shares were on the defensive after Trump scrapped a key summit with North Korea, though fears were calmed by Pyongyang’s response.

Oil prices eased as Russia hinted it may gradually increase output, after having withheld supplies since 2017.

New applications for U.S. unemployment benefits increased more than expected last week, but continued to suggest that the labor market is tight.

World shares fell on Thursday as cars become the latest focus of U.S. protectionism worries, while Turkey’s lira slumped again despite an emergency interest rate increase.

Oil fell on Thursday, driven lower by the prospect of the first increase in OPEC output since 2016, while a surprise rise in U.S. crude inventories raised doubt over seasonal demand.