REUTERS - Libya’s oil production has been reduced to 315,000 barrels per day (bpd) as storage tanks at Hariga and Zueitina ports fill up due to eastern officials blocking exports, two Libyan oil sources said

PLATTS - "I think you're going to see a settling-down of the market -- people feeling comfortable that Saudi Arabia, Russia and the United States, we've got substantial production," Perry said, while acknowledging pipeline constraints in Texas that are holding back Permian Basin oil exports.

SHANA - The Iranian official, following the 174th ordinary meeting of the Organization of the Petroleum Exporting Countries (OPEC) said: As I said on the minute of my arrival in Vienna, we needed to fully comply with the output reduction agreement of the organization and nothing more.”

WSJ - U.S. production has grown at a record-setting pace this year, hitting 10.9 million barrels a day this month after oil prices exceeded $70 a barrel for the first time since 2014. That makes the U.S. the world’s No. 2 oil producer behind Russia, but ahead of Saudi Arabia.

REUTERS - Venezuela has the ability to boost crude output by 1 million barrels per day (bpd) by end of the year in its bid to recover lost production, but the oil minister also said on Friday this goal would be “a challenge” for state oil firm PDVSA.

BLOOMBERG - OPEC members are discussing a compromise agreement that would see an oil production increase of between 300,000 and 600,000 barrels a day over the next few months,

PLATTS - Iran will not accept any proposals for OPEC to raise its quotas, the country's oil minister said Tuesday, adding that even a 500,000 b/d increase "is not necessary." "Decisions in OPEC need unanimity," Bijan Zanganeh said on arrival in Vienna ahead of OPEC talks this week. "I don't think at this meeting we can reach an agreement."

EIA - Crude oil production from the major US onshore regions is forecast to increase 141,000 b/d month-over-month in June from 7,198 to 7,339 thousand barrels/day , gas production to increase 1,135 million cubic feet/day from 68,624 to 69,759 million cubic feet/day .

NPD - Preliminary production figures for May 2018 show an average daily production of 1 629 000 barrels of oil, NGL and condensate, which is a decrease of 236 000 barrels per day compared to April.

PLATTS - Libyan crude production has fallen around 400,000 b/d -- or nearly halved -- due to militia attacks on the eastern oil terminals of Ras Lanuf and Es Sider, the head of the countrys National Oil Corp. said Tuesday.