* Brent below $103 due to ample stocks
* Shaky EU economic outlook adds to weakness
* Coming Up: U.S. Aug industrial output at 1315 GMT
By Seng Li Peng
SINGAPORE, Aug 15 Brent crude edged up on Friday
but still traded near a 13-month low below $103 a barrel as a
shaky European economy fuelled concern about demand in a
well-supplied oil market.
Growth in Germany and France ground to a halt in the second
quarter. That disappointing data came just days
after news that implied oil demand in China, the world's
second-largest oil consumer, fell 6 percent in July from June.
October Brent crude rose 48 cents to $102.55 a
barrel by 0221 GMT but the September contract, which expired on
Thursday, had tumbled $2 to settle at $102.01, the lowest for
front-month prices since June 2013.
U.S. crude edged up 12 cents to $95.70 a barrel.
"The negative economic view is bearish, particularly in
Europe, and that should be a major headache," said Jonathan
Barratt, chief investment officer at Sydney-based wealth
management firm Ayers Alliance.
"What was noticed in the last two months is that
geopolitical events are not driving prices the way they should
be and that tells us that the market is recognising the supply
dynamic," added Barratt, pointing to rising production in the
United States and above-average OPEC output in July.
OPEC's July production was at a five-month high of more than
30 million barrels per day and more output will come from Libya
as it reopens eastern oil ports.
Libya is set to resume oil exports from its largest port, Es
Sider, in "a few days" after it was closed for almost a year by
protests, a National Oil Corporation (NOC) official said on
The first oil export in a year from Ras Lanuf port left the
country on Tuesday.
In Iraq, a tussle over control in Baghdad ended as Nuri
al-Maliki stepped down as prime minister, raising hopes that a
new coalition government can quash a Sunni Islamist insurgency
in the country's north.
In Europe, conciliatory comments from Russian President
Vladimir Putin over the crisis in Ukraine provided some relief
to investors as sanctions imposed on Russia over the Ukraine
crisis has hurt trade.
(Editing by Alan Raybould)