Oil prices dipped on Friday but are on track for a second consecutive week of gains due to a large cut in U.S. interest rates and declining U.S. stockpiles. Brent futures were down 0.45% at $74.54 a barrel, while U.S. WTI crude futures fell 0.01% to $71.94. Prices have recovered after falling below $69 for the first time in nearly three years. The U.S. central bank's decision to cut interest rates by half a percentage point has supported risk sentiment and weakened the dollar, benefiting crude prices. However, concerns remain about weakness in the U.S. labor market and weaker Chinese demand.