Crude oil futures slipped Rs 22 to Rs 5,350 per barrel on Friday as traders pared positions amid subdued demand in the spot market.

On the Multi Commodity Exchange (MCX), January delivery contracts declined 0.41 per cent to Rs 5,350 per barrel, with a business turnover of 2,631 lots.

Analysts said the weakness was driven by participants offloading holdings due to lacklustre physical market demand.