Crude oil prices slide Friday

NEW YORK, Jan. 9 (UPI) -- Crude oil prices fell on the New York Mercantile Exchange Friday as weaker economies continued to point to eroding demand.

Crude oil prices fell $2.24 to $40.46 per barrel despite an Organization of Petroleum Exporting Countries production cut that went into effect the first of the year.

Heating oil prices also fell, down 0.045 cents to $1.488 per gallon. Reformulated blendstock gasoline rose 0.001 cents to $1.111 per gallon. Natural gas prices dropped 0.059 cents to $5.538 per million British thermal units.

At the pump, the average price for a gallon of regular unleaded gasoline was $1.782 Friday, up from Thursday's $1.762 a gallon, AAA said.