OIL PRICE: NOT ABOVE $80

REUTERS - Oil prices rose on Friday on signs of surging demand in China, the world's second-biggest oil consumer, although the market was heading for a second week of losses on concern that trade wars were curbing economic activity and rising U.S. inventories.

Benchmark Brent crude oil LCOc1 was up 20 cents a barrel at $79.49 by 0740 GMT. U.S. light crude CLc1 was 15 cents higher at $68.80.

For the week, Brent crude was 1 percent lower while U.S. crude was down 3.5 percent, both on track for a second consecutive weekly decline.

Refinery throughput in China, the world's largest oil importer, rose to a record high of 12.49 million barrels per day (bpd) in September as some independent plants restarted operations after prolonged shutdowns over the summer to shore up inventories, government data showed on Friday.

China's refinery consumption may now be rising as several state-owned refiners return to service after maintenance.

Undermining sentiment were official figures showing China's economic growth slowed in the third quarter to its weakest pace since the global financial crisis, with gross domestic product expanding by only 6.5 percent, missing estimates.

The data raised concerns that China's trade war with United States was beginning to hit growth, which may limit oil demand.

Also denting confidence was evidence this week that U.S. oil inventories had risen sharply.

U.S. crude stocks last week climbed 6.5 million barrels, marking a fourth straight weekly build and almost triple the amount analysts had forecast, the U.S. Energy Information Administration said on Wednesday.

"EIA Weekly Petroleum Status Report was a complete shocker sending oil markets spiraling lower amidst some concerning development for oil bulls," said Stephen Innes, head of trading APAC at OANDA in Singapore.

Inventories rose sharply even as U.S. crude production slipped 300,000 barrels per day (bpd) to 10.9 million bpd last week due to the effects of offshore facilities closing temporarily for Hurricane Michael.

Meanwhile, Iranian oil exports may have risen in October as buyers took cargoes before U.S. sanctions on Tehran take effect from Nov. 4.

An unprecedented volume of Iranian crude oil is set to arrive at China's northeast port of Dalian this month and in early November before then, according to an Iranian shipping source and data on Refinitiv Eikon.

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Earlier: 

2018, October, 17, 10:35:00 OIL PRICE: ABOVE $81 ANEW REUTERS - U.S. West Texas Intermediate crude CLc1 was up 25 cents, or 0.4 percent, at $72.17 a barrel by 0648 GMT on Wednesday, having settled up 14 cents. Brent crude LCOc1 was up 26 cents, or 0.3 percent, at $81.67 a barrel, after settling up 63 cents the session before.

2018, October, 17, 10:25:00 ЦЕНА URALS: $81.10625 МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 сентября по 14 октября 2018 года составила $ 81,10625 за баррель, или $ 592,1 за тонну.

2018, October, 17, 10:20:00 INDIA'S PIVOTAL IMPORTANCE OPEC - We forecast that primary energy demand, globally, is expected to increase by 33%, or 91 mboe/d, between 2015 and 2040. A massive 24% of this anticipated increase will be from India, or 22 mboe/d.

2018, October, 15, 12:30:00 OIL PRICE: NEAR $81 ANEW REUTERS - Benchmark Brent crude oil jumped by $1.49 a barrel to a high of $81.92 before slipping to $80.83, up 40 cents, by 0745 GMT. U.S. crude was last up 20 cents at $71.54.

2018, October, 15, 12:10:00 IRAN SANCTIONS DOWN PLATTS - Iran played down the impact of looming US sanctions on its economy with a senior official saying on Sunday that the current high oil prices should make up for any fall in oil sales, according to state-owned news agency IRNA.

2018, October, 15, 12:05:00 IRAN - S.KOREA OIL DOWN ANEW PLATTS - South Korea imported no Iranian crude in September -- for the first time since September 2012 -- ahead of the looming reimposition of US sanctions on Tehran, preliminary data released by Korea Customs Service showed Monday.

2018, October, 12, 11:40:00 OIL PRICE: NEAR $81 REUTERS - Brent crude futures had risen $1.02 cents, or 1.3 percent, to $81.28 a barrel by 0637 GMT. The contract dropped 3.4 percent on Thursday following sharp falls in equity markets and indications that supply concerns have been overblown. U.S. West Texas Intermediate (WTI) crude futures were up 80 cents, or 1.1 percent, at $71.77 a barrel, after a 3 percent fall in the previous session. WTI is on track for a 3.5 percent drop this week.