WTI & Brent trade $0.10 & $0.25 softer,.........>

OIL: WTI & Brent trade $0.10 & $0.25 softer, sticking to tight ranges in

Asia-Pac hours after struggling on the back of supply side issues on Thursday.

- Thursday saw the Russian energy ministry confirm reports; the country produced

levels of crude above that agreed in the OPEC+ production pact (marginally). The

ministry then confirmed that it will keep May's oil production in-line with

agreements. Elsewhere, OPEC Sec Gen Barkindo stated that it is "impossible" to

zero Iranian crude exports, which is the aim of the U.S. sanctions on the Gulf

state. Meanwhile, the Turkish Foreign Min noted that it will be hard for the

country to diversify its energy imports easily, when questioned on the

sanctions. The Iranian Oil Min made comments late Thursday, noting that the

state will not "remain silent" if OPEC members threaten its interests, he also

warned that a collapse of OPEC is likely. Also worth noting that Venezuela's

PDVSA Curacao refinery has received exemptions from U.S. sanctions.

- Ongoing worry on the back of the latest DoE inventory data (which revealed

record U.S. crude production and a much larger than expected build in headline

crude stocks), and a technically toppy picture added further weight.