Oil prices were trending down Friday as weak economic data from China added to the woes affecting the global crude markets, the Wall Street Journal reported.

Global crude benchmark Brent is down 0.8% at $45.12 a barrel while its US counterpart WTI is down 1.8% at $42.27 for January loading.

Chinese industrial company profits dropped 4.6% in October compared to the corresponding month in 2014, a fifth straight month they have fell.

The Thanksgiving weekend in the US means that trading will be quieter than usual today.