WTI trades $0.20 higher at writing, with........>

OIL: WTI trades $0.20 higher at writing, with Brent $0.10 better off. This comes

after risk-on flows supported crude on Monday, and even with Asia-Pacific

equities off of their best levels. Crude specific matters also promoted bullish

price action on Monday. RTRS OPEC survey pointed to a 280K bpd fall in cartel

production (which would represent the lowest level of monthly production since

2015), while BBG's OPEC survey pointed to a 295K bpd production fall in the same

month, with Saudi once again leading the way, as the Kingdom produces far less

oil than the OPEC+ production accord permits, while the well documented

Venezuelan issues crimped production in the Latin American state.

- Elsewhere, Iranian oil minister Zanganeh noted that that, in his view, it

should be easy to extend the OPEC+ production accord, that came after he met

with his Russian counterpart Novak. Meanwhile, the Russian central bank noted

that it doesn't rule out the current pact being extended into H219.

- Iraqi crude exports slowed to 3.377mn bpd in March, from the 3.620mn bpd seen

in February.

- API data provides the highlight for participants on Tuesday.