Brent crude fell towards $54 a barrel on Friday and was on track for its third weekly loss, hurt by oversupply worries after Kuwait said OPEC had no choice but to maintain output levels. High inventory in the United States, the world’s largest oil consumer, also weighed on prices. Brent crude for May delivery LCOc1 had fallen 30 cents to $54.13 a barrel by 0743 GMT. The contract is set to fall nearly 1 percent this week in its third straight weekly loss. U.S. crude for April delivery CLc1 tumbled 52 cents to $43.44 a barrel, headed for its fifth weekly loss. The contract expires on Friday. “The U.S. crude inventory numbers have been climbing for the last 10 straight weeks, sitting at their highest levels in 80 years. So that’s a further supply side concern on top of news coming out of Kuwait,” said Ben Le […]