Oil prices slip again amid gathering gloom over global economy

* Brent, WTI benchmarks fell more than 5% last week
* Middle East tensions linger, deadly clashes in Iraqi
unrest
* U.S.-China trade talks to focus minds later in week

By Florence Tan
SINGAPORE, Oct 7 (Reuters) - Oil prices fell on Monday,
extending last week's heavy losses, with traders fearing the
global economic slowdown will weigh on future oil demand growth
while pegging hopes for a rebound on progress in talks this week
on ending the U.S.-China trade war.
Brent crude futures LCOc1 edged down 24 cents to $58.13 a
barrel by 0147 GMT while U.S. West Texas Intermediate (WTI)
crude CLc1 was at $52.69, down 12 cents.
Both contracts ended last week with a more-than-5% decline
after dismal manufacturing data from the United States and
China, as the lingering row between the world's top economies
hurts global growth and raises the risk of recession.
U.S. and Chinese officials will meet in Washington on Oct.
10-11 in the next, much-anticipated fresh effort to work out a
deal.
On the supply side, a faster-than-expected resumption in
Saudi Arabia's production after a Sept. 14 attack on key
production facilities also exerted downward pressure on oil
prices, although the Middle East remained tense. In Iraq, the second-largest producer among the Organization
of the Petroleum Exporting Countries, deadly anti-government
unrest is posing the biggest security and political challenge so
far to Prime Minister Adel Abdul Mahdi's year-old government.
Global supply also faces facility repair and maintenance
pressures.
The Buzzard oil field in the British North Sea has been shut
for pipe repair work, a spokesman from China's CNOOC said on
Friday. Buzzard is the main contributor to the Forties crude
stream, the largest of the five North Sea oil grades that
underpin Brent crude futures.
Meanwhile Libya's National Oil Corporation (NOC) said on
Sunday it will close the Faregh oil field at Zueitina port for
scheduled maintenance from Monday until Oct. 14.