Crude oil futures slipped below $73 a barrel for West Texas Intermediate late Friday as a temporary boost from strong GDP figures failed to last and let prices sink to a one-month low.

Earlier in the week, China, weak refinery demand and slumping tech stocks all conspired to keep energy prices low, with prices oscillating around $73 a barrel.

World leaders will agree to expand the role of the Group of 20 leading economies on Friday, putting it at the centre of international economic policy making in future.