PLATTS - Venezuela's crude output averaged 1.36 million b/d in May, down from 1.41 million b/d in April, and 1.9 million b/d in May 2017, according to S&P Global Platts. The International Energy Agency said it could fall to 800,000 b/d or even lower next year.

REUTERS - U.S. light crude oil CLc1 hit a two-month low of $63.59 a barrel before recovering to trade at $64.76, down 30 cents, by 0950 GMT. North Sea Brent LCOc1, meanwhile, was up 60 cents at $74.04 a barrel.

PLATTS - Saying that current oil prices were not supported by market fundamentals, Indian oil minister Dharmendra Pradhan on Thursday called for "responsible pricing, one that balances the interests of both the producer and consumer."

REUTERS - Brent crude LCOc1 had edged up 3 cents to $75.97 a barrel by 0658 GMT, after settling down 80 cents the session before. U.S. West Texas Intermediate crude CLc1 was up 5 cents at $66.94 a barrel, having settled the last session up 25 cents. It touched a two-week high of $67.16 on Thursday.

REUTERS - OPEC and U.S. representatives have met at least twice this year, with a third high-profile meeting set for Vienna next week. Finding the optimal balance of crude supply and demand will be the hot topic.

REUTERS - Brent crude LCOc1 was down 30 cents at $75.58 a barrel by 1000 GMT. U.S. light crude CLc1 was 15 cents lower at $66.21.

EIA - Brent crude oil spot prices averaged $77 per barrel (b) in May, an increase of $5/b from the April level and the highest monthly average price since November 2014. EIA forecasts Brent spot prices will average $71/b in 2018 and $68/b in 2019. The 2019 forecast price is $2/b higher than in the May STEO. EIA expects West Texas Intermediate (WTI) crude oil prices will average almost $7/b lower than Brent prices in 2018 and $6/b lower than Brent prices in 2019

REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $76.79 per barrel at 0654 GMT, down 53 cents, or 0.7 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 38 cents, or 0.6 percent, at $65.57 a barrel.

REUTERS - Brent crude LCOc1 rose 78 cents to $76.16 a barrel by 0645 GMT after dropping to its lowest since May 8 on Tuesday. U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 33 cents at $65.85 a barrel, having touched a near two-month low on Tuesday.

REUTERS - “We have to look into the situation which has panned out on the market today, from the point of view of the volume cuts, inventories decline, shortages on the market, and to adjust the figures,” Novak told reporters.