Oil prices were set to fall this week, with both benchmarks dropping slightly on Friday, on concerns among investors about rising supply from the U.S. and other nations threatening to undermine efforts by OPEC and other producers to tighten the market.Several reports this week renewed investor focus on the potential for rising supply to overwhelm the expected gains in crude demand for 2018.The supply increase is more than the IEA's expected demand growth forecast for this year of 1.5 million bpd. The agency also reported that commercial oil inventories in industrialized nations rose in January for the first time in seven months. That directly undermines the efforts of producers led by OPEC and Russia, the world's biggest oil producer, to cut supply in order to reduce global stockpiles.
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