REUTERS - Oil prices slipped with Brent crude futures LCOc1 off 66 cents at $71.92 a barrel, while U.S. crude CLc1 fell 56 cents to $66.83 a barrel.

IEA - Globally, we expect oil demand to grow by 1.5 mb/d in 2018. However, there is an element of risk to this outlook from the current tension on trade tariffs between China and the US,

REUTERS - South Korea’s March crude oil imports from Iran dropped 39.3 percent from a year earlier on slowing demand for Iranian oil, the country’s customs data showed on Sunday.

BAKER HUGHES A GE - U.S. Rig Count is up 5 rigs from last week to 1,008, with oil rigs up 7 to 815, gas rigs down 2 to 192, and miscellaneous rigs unchanged at 1. Canada Rig Count is down 9 rigs from last week to 102, with oil rigs down 7 to 41 and gas rigs down 2 to 61.

REUTERS - Recovering from earlier losses, Brent crude LCOc1 was up 28 cents at $72.30 a barrel by 1301 GMT and set for a weekly gain of almost 8 percent, or about $5.U.S. crude for May delivery CLc1 rose 28 cents to $67.35, up more than 8 percent, or about $5, for the week.

REUTERS - “There is growing confidence that the declaration of cooperation will be extended beyond 2018,” Barkindo told. “Russia will continue to play a leading role.”

PLATTS - "Since 2013-2014 we have seen a rapid drop off in investment which we believe will bite the consumers and the industry as a whole," Falih said at a media briefing at the International Energy Forum. "We are trying to signal to the market, to the investors, to the financial community, to international oil companies to put investments back into the upstream."

BLOOMBERG - OPEC said its oil output fell to the lowest in a year last month amid reduced supplies from Venezuela and Saudi Arabia, suggesting global markets may tighten sharply later this year.

REUTERS - Brent crude has gained 5.7 percent this week, rising to $71.34 a barrel on Tuesday, the highest since late 2014, although the price has since fallen back and was $70.98 a barrel by 0907 GMT LCOc1, down 6 cents.U.S. crude futures CLc1 were at $65.55 a barrel, up 4 cents on the day.

PLATTS - Maintaining a long-term oil management alliance with Russia and other allies will allow OPEC producers to react more quickly to changing fundamentals and stabilize the market,