MOSCOW--The Russian ruble weakened to new lows in early trading on Friday, hit by a drop in oil prices after OPEC members rejected calls for drastic action to cut their oil output.

OPEC members' decision to keep their production ceiling unchanged sent Brent crude prices below $72 per barrel for the first time since mid-2010, threatening to put more of a brake on Russia's economic growth. The country receives around 50% of its revenue from exporting oil and gas.