Crude prices are little changed at writing......>

OIL: Crude prices are little changed at writing. This comes after crude firmed

on Thursday, as both benchmarks bounced from their recent lows. In fairness most

of the move came in post-settlement trade on Wednesday, on the back of the prev.

outlined BBG sources piece which suggested that "Saudi Arabia has phoned other

oil producers to discuss possible policy responses as oil prices slide."

Thursday drew comments from another Saudi off'l, via RTRS, who stated that the

Kingdom is willing to do whatever it takes to keep the oil mkt balanced in '20.

The off'l also noted that Saudi plans to keep its crude exports < 7mn bpd in Aug

& Sep, despite strong demand. Elsewhere, the UAE energy min noted that "the UAE

will continue to support actions that help balance the oil mkt." The latest

Argus survey has OPEC production earmarked at 29.54mn bpd in July, -340K bpd

M/M. Meanwhile, RTRS sources noted that Libya is gradually restarting production

at the El Sharara oilfield. Finally, Alberta's oil storage levels fell to the

lowest level in nearly 2 years in July, per Genscape, reported by CBC.

- Participants look to the latest Baker Hughes rig count and the IEA monthly oil

market report, both of which will hit later today.