PLATTS - OPEC's second-largest producer, Iraq, boosted its southern crude oil exports to a new record high of 3.583 million b/d in August, according to the latest oil ministry data.

FT - Higher energy prices and a weakened rouble saw second-quarter profits soar at three of Russia’s largest oil and gas groups, underlining a strong earnings season for the country’s energy industry that has weathered international sanctions to reap strong earnings.

PLATTS - Libya's crude oil production edged up again this week, with increased output from two smaller fields in the east of the country, sources said Friday.

BAKER HUGHES A GE - U.S. Rig Count is up 4 rigs from last week to 1,048, with oil rigs up 2 to 862, gas rigs up 2 to 184, and miscellaneous rigs unchanged at 2. Canada Rig Count is down 1 rig from last week to 228, with oil rigs down 2 to 151 and gas rigs up 1 to 77.

REUTERS -International Brent crude oil futures LCOc1 were at $77.64 per barrel at 0654 GMT, down 13 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were unchanged at $70.25 a barrel.

PLATTS - China's consumption of oil products rose 7.2% year on year to 27.54 million mt in July, data released Tuesday by the National Development and Reform Commission showed.

PLATTS - Oil production at Kazakhstan's giant Kashagan field could be as high as 470,000 b/d under its first development phase, the head of the consortium overseeing the field, Brune Jardin, has said, while also noting plans for a big maintenance shutdown, and for development of nearby fields with China's CMOC.

REUTERS - International Brent crude oil futures LCOc1 were at $75.69 per barrel at 0654 GMT, down 26 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 12 cents, or 0.2 percent, at $68.41 a barrel.

U.S. EIA - The South China Sea is a major trade route for crude oil, and in 2016, more than 30% of global maritime crude oil trade, or about 15 million barrels per day (b/d), passed through the South China Sea.

REUTERS - Iran’s crude oil and condensate exports in August are set to drop below 70 million barrels for the first time since April 2017, well ahead of the Nov. 4 start date for a second round of U.S. economic sanctions.