REUTERS - Brent crude futures were down 66 cents, or 0.9 percent, at $74.67 a barrel at 0645 GMT. U.S. West Texas Intermediate (WTI) crude was down 57 cents, or 0.8 percent, at $70.43 a barrel.
IEA - The re-emergence of Libya as a risk factor in global supply follows a series of attacks on key infrastructure that saw production plummet to around 500 kb/d in July from close to the 1 mb/d level seen for about a year.
PLATTS - "The shift from reporting individual country conformity to reporting overall conformity will be adopted to reflect the June 23 decision of the 4th OPEC and non-OPEC Ministerial Meeting that countries will strive to adhere to the overall conformity level, voluntarily adjusted to 100%, as of July 2018," Saudi energy minister Khalid al-Falih wrote to his counterparts Thursday in a letter.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.
IMF - Following the severe recession in 2015−16, real GDP grew by 1 percent in 2017. Growth is projected to be 1.8 and 2.5 percent in 2018 and 2019, respectively, driven by a recovery in domestic consumption and investment. Even if federal expenditure remains constant in real terms at its 2016 level, as mandated by a constitutional rule, public debt is expected to rise further and peak in 2023 at above 90 percent of GDP.
PLATTS - China imported 146 million mt of coal and lignite in the first half of 2018, up 9.9% from the previous year and a three-year high, according to preliminary data released Friday by the General Administration of Customs. In June China imported 25.5 million mt of coal, up 17.9% on the year and 14% on the month from 22.3 million mt in May, the data showed.
PLATTS - Russian miner SUEK (Siberian Coal Energy Company) produced 55.6 million mt of coal in the first six months of 2018, which was an increase of 4% on the year, according to a statement from the company late Thursday.
BAKER HUGHES A GE - U.S. Rig Count is up 2 rigs from last week to 1,054, with oil rigs unchanged at 863, gas rigs up 2 to 189, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 15 rigs from last week to 197, with oil rigs up 13 to 139 and gas rigs up 2 to 58.
REUTERS - Brent crude LCOc1 rose $1.23, or 1.7 percent, to $74.63 a barrel by 0544 GMT after slumping 6.9 percent on Wednesday. U.S. West Texas Intermediate (WTI) CLc1 added 46 cents, or 0.7 percent, to $70.84 a barrel, after falling 5 percent the previous session.