Oil prices edge lower on doubts over production cut deal

By Karolin Schaps LONDON (Reuters) - Oil prices edged lower on Friday and were set for the biggest weekly losses in six weeks over doubts about whether OPEC and non-OPEC oil producers will be able to agree on an output cut big enough to curb a global glut that has weighed on markets for two years. Weak prices have also hit Italian oil firm ENI, which reported a worse-than-expected quarterly loss on Friday.