Crude oil prices are holding above 60 dollars a barrel in Friday trading, but they're on track to drop for the fifth week in a row.

Europe's benchmark Brent crude stayed above the 60-dollar mark while West Texas Intermediate crude was over 56 dollars a barrel. But U.S. figures show crude oil inventories are at the highest level ever for December, after rising by seven-point-three million barrels last week.

That's evidence of the supply glut that's keeping prices down.