Oil futures settled with a loss of about 8% for the week as a growing glut of global crude supplies, a forecast for a slowdown in demand growth next year and data showing a weekly rise in the number of U.S. oil rigs pulled prices down on Friday. December crude settled at $40.74 a barrel on the New York Mercantile Exchange, down $1.01, or 2.8%, for the session. That was the lowest settlement since Aug. 26. The 8% weekly loss was the largest since the week ended March 13.
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