Oil falls but set to post biggest monthly rise in years on output cuts

SINGAPORE (Reuters) - Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after U.S. inventory data showed lacklustre fuel demand in the world's largest oil consumer while worsening U.S.-China tensions weighed on global financial markets.Brent crude slipped 43 cents, or 1.2%, to $34.86 a barrel by 0643 GMT and U.S. West Texas Intermediate (WTI) crude was at $33.14 a barrel, down 57 cents, or 1.7%."The rally needs a breather. It has been four weeks of gains and..