Oil prices edged down during Friday’s trading session in Asia, with investors closely watching for clues from the forthcoming OPEC+ meeting. Meanwhile, new sanctions imposed by the U.S. on Iran helped prevent a sharper drop in crude prices.

Oil prices slipped slightly in Asian trading on Friday as investors awaited signals from the upcoming OPEC+ meeting, while new U.S. sanctions on Iran helped limit losses. Brent crude futures for September fell 0.

The OPEC+ hikes show the cartel falling in line with demands from U.S. President Donald Trump to increase production and stem any rises in oil prices. While oil had risen close to 2025 highs in June, amid the Israel-Iran war, a deescalation in military action saw crude crash back below $70 a barrel.