By Alex Longley

(Bloomberg) —

Summary of what’s shaping the oil market on Monday: Strong Chinese manufacturing figures lifted sentiment across markets, with attention also shifting to trade discussions between China and the U.S. later this week. Parts of Venezuela were once again without electricity on Sunday. Bloomberg’s OPEC crude output survey and tanker trackers due from Monday.

* Improved Chinese factory activity helped lift risky assets globally, with European and Asian equities both rising and U.S. futures also gaining

** U.S.-China trade talks will resume this week when Vice Premier Liu He leads a delegation to Washington
** In Turkish elections, the impact of nation’s recession saw President Erdogan lose key major cities

* Electricity went out again in parts of Venezuela, including the capital Caracas
* Bloomberg’s monthly tanker-tracking surveys to be released from Monday

** Iranian observed flows rose in March
** Flows from South Sudan slipped
** Bloomberg OPEC crude production survey also due

* Russia cut oil output by 100k b/d from its October baseline in March, while Iraq says its crude exports fell to 3.4m b/d in March
* Saudi Aramco revealed some of its financial secrets. The oil giant’s net income was $111.1b last year, but doesn’t generate as much cash per barrel as other leading oil companies

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Alaric Nightingale at
Rachel Graham, Alaric Nightingale