WTI and Brent both sit around $0.30 higher......>

OIL: WTI and Brent both sit around $0.30 higher than settlement at writing. The

benchmarks were dented by broader risk-aversion on Friday, even as the latest

Baker Hughes rig count data pointed to 9 fewer active U.S. oil rigs in the

latest week.

- The weekend saw Saudi Energy Minister al-Falih speak with RTRS. He suggested

that it would be too early to change OPEC+ output policy at the group's meeting

in April, pointing to steady policy until at least June.

- Elsewhere, various reports pointed to Libya's Sharara oilfield reaching 200K

bpd worth of production. This resulted in BBG calculating that "Libya's oil

output is on track to hit an almost six-year high. The OPEC member is pumping

1.17 million barrels of crude a day."

- UAE Energy Minister al-Mazouei stated that the UAE's OPEC+ "compliance for the

month of February 2019 will meet, if not exceed, it's obligations."

- Kuwait's Oil Minister al-Fadhel spoke with Al-Rai, and noted that current oil

prices "are good for producers and consumers."