Oct 2 (Reuters) - Australian shares are set to drop on Friday, with losses in energy stocks likely weighing on the benchmark as oil prices tumbled overnight. Oil prices fell 3% on Thursday as rising COVID-19 cases around the world dampened the demand outlook, and a rise in OPEC output last month also pressured prices. The local share price index futures fell 0.5%, a 31.9-point discount to the underlying S&P/ASX 200 index close. The benchmark closed 1% higher on Thursday. New Zealand's benchmark S&P/NZX 50 index rose 0.04% in early trade. (Reporting by Arundhati Dutta in Bengaluru; Editing by Leslie Adler)
Our Standards: The Thomson Reuters Trust Principles.