Oil remains nearly flat in Asia, WTI is down....>

OIL: Oil remains nearly flat in Asia, WTI is down $0.13 at $50.53, Brent also

down marginally by $0.05 at $56.81.

- Oil prices rose in Europe ahead of the OPEC meeting at 0900BST on Friday,

coming down again after, the main focus in the meeting was production, the

conclusion broadly was that the oil glut is nearly cured and oil production is

on it's way to rebalancing.

- The Baker Hughes Rig count came out on the rise once again on Friday despite

Hurricane Maria in Puerto Rico causing Buckeye Partners oil terminal to close

and remain closed since. the Kuwaiti Prime Minister Essam al-Marzouq proposed a

review of export data, OPEC officials previously said exports are more

influential on levels of supply internationally than production.

- MNI technical analysis sees support at $55.89 - Low Sept 22 and resistance at

$56.47 - High Sept 22. Bulls reconfirmed dominance with fresh 4-Month highs

continuing and focus on the daily bull channel top. O/B daily studies looking to

correct remain the key concern for bulls.