The major crude benchmarks trade marginally.....>

OIL: The major crude benchmarks trade marginally lower at writing, WTI & Brent

last down ~$0.10, after tracking broader risk sentiment, rebounding from early

lows on optimism surrounding some re-opening of business operations in China,

albeit in an un-streamlined manner.

- On a more negative note RTRS subsequently reported a likelihood of deeper

throughput cutbacks from PetroChina citing company officials.

- Elsewhere, a final Russian decision re: OPEC+ production hasn't been

forthcoming, with market jittery over the lack of commitment apparent thus far

(although this is the usual etiquette for the Russians around such decisions).

It probably didn't help that Azerbaijan's Energy Minister told reporters that he

expects that there will not be an early OPEC+ ministerial meeting convened in

the wake of last week's JTC.

- Elsewhere, Friday saw WSJ sources note that Saudi Arabia "is set Monday to

restart oil production in a long-dormant operation it shares with Kuwait."

- One eye also remains on Libyan output, as it ratchets lower alongside the

continued domestic unrest.