OIL PRICE: NOT ABOVE $65
REUTERS - Oil prices were stable on Wednesday after posting two days of declines at the start of the week, with support largely coming from strong China data that implies higher future imports, while the relentless rise in U.S. crude output capped gains.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $60.77 a barrel at 0753 GMT, up 6 cents, or 0.1 percent, from their previous settlement.
Brent crude futures LCOc1 were at $64.62 per barrel, down just 2 cents from their last close.
Wednesday's tepid support came from China, which reported January-February domestic oil production down by 1.9 percent on the year to 30.37 million tonnes, equivalent to 3.77 million bpd. At the same time, crude throughput rose 7.3 percent to 93.4 million tonnes, implying a need for more imports.
Despite this, Brent and WTI have shed around 1.5 and 2.4 percent respectively since the start of the week, with prices hit by concern over a relentless rise in U.S. crude oil production that has also been contributing to increasing inventories.
U.S. crude production has soared by almost a quarter since mid-2016 to 10.37 million barrels per day (bpd), overtaking output by top exporter Saudi Arabia.
U.S. production is expected to rise above 11 million bpd by late 2018, taking the top spot from Russia, according to the International Energy Agency (IEA).
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МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 августа по 14 сентября 2018 года составила $74,45568 за баррель, или $543,5 за тонну. Согласно расчетам Минфина России экспортная пошлина на нефть в РФ с 1 октября 2018 года повысится на $7,5 и составит $137,5 за тонну.
PLATTS - Saudi production has since risen to 10.42 million b/d in August, the country reported to OPEC in the organization's most recent monthly oil market report. Saudi Arabia's crude oil stocks, which have been declining steadily over the last three years, fell to 229.41 million barrels in July, down 11.4% since May 2017, the JODI data showed.
U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 79,000 b/d month-over-month in October from 7,515 to 7,594 thousand barrels/day , gas production to increase 961 million cubic feet/day from 72,127 to 73,088 million cubic feet/day .
REUTERS - Beijing on Tuesday said it would tax U.S. products worth $60 billion effective Sept. 24 in retaliation for tariffs imposed by U.S. President Donald Trump in an escalating trade war.