| SINGAPORE, Sept 16
SINGAPORE, Sept 16 Oil prices fell on Friday on
worries that U.S. rig counts would continue to rise and that
returning Libyan and Nigerian exports would stoke a global
Brent crude futures were trading at $46.32 per
barrel at 0107 GMT, down 27 cents, or 0.6 percent, from their
last settlement. U.S. West Texas Intermediate futures
were down 24 cents, or 0.6 percent, at $43.67 a barrel.
"The focus will turn to drilling activity in the U.S., with
another rise expected to raise concerns about a recovery in U.S.
output," Australian bank ANZ said in a note.
Baker Hughes U.S. rig count data for the week to Sept. 16 is
due on Friday. WTI prices that have held above $40 a barrel
since the start of August have supported the growth in the
number of U.S. rigs.
U.S. drillers added seven oil rigs in the week to Sept. 9,
bringing the total rig count to 414, the most since February.
Returning supply from Libya and Nigeria will hamper a
rebalancing of the global crude market, weighing on sentiment,
Libya is resuming oil exports from some of its main ports
which forces loyal to eastern commander Khalifa Haftar seized in
recent days and has lifted related "force majeure" contractual
clauses, the National Oil Corporation (NOC) said on Thursday.
ExxonMobil has a pipeline prepared to export Nigeria's Qua
Iboe crude oil, with the first cargo expected to load as early
as the end of September, trading sources said on Thursday.
(Reporting by Mark Tay; Editing by Joseph Radford)