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Oil prices edged lower on Friday, dragged down by concerns that a spike in COVID-19 cases in the United States and Europe will continue to drag on demand in two of the world’s biggest fuel-consuming regions.

OPEC+, a grouping of the Organization of the Petroleum Exporting Countries and ally producers including Russia, fear a prolonged second wave of the pandemic and a jump in Libyan output could push the oil market into surplus next year, according to a confidential document seen by Reuters, a much gloomier outlook than just a month ago.

Brent crude futures fell 23 cents to settle at $42.93 a barrel, and U.S. West Texas Intermediate crude futures dropped 8 cents to settle at $40.88 a barrel.

OPEC+ is set to ease its current supply cuts of 7.7 million barrels per day (bpd) by 2 million bpd in January.

In the United States, drillers have begun adding oil rigs since cutting them to a 15-year low in August. This week, they added the most oil rigs in a week since January, increasing the count by 12 to 205, energy services firm Baker Hughes Co said.

“Both sides have reiterated their willingness to continue close coordination in this area in order to maintain stability on the global energy market,” Russian’s statement said.