UPDATE 9-Oil prices fall 1% as global demand concerns grow

* Trade deal does not need to be inked next month -Ross
* China seeks $2.4 billion in sanctions against U.S.
* Russia reports oil output above OPEC+ quota in September
* European shares rise as risk of no-deal Brexit recedes

(New throughout, updates prices, market activity and comments
to settlement)
By Stephanie Kelly
NEW YORK, Oct 21 (Reuters) - Oil prices fell nearly 1% on
Monday after comments from a U.S. official fed concerns
surrounding the U.S.-China trade war, adding to worries that a
slowing global economy would reduce demand for oil.
Brent crude LCOc1 futures fell 46 cents, or 0.8%, to
settle at $58.96 a barrel. U.S. West Texas Intermediate (WTI)
crude CLc1 futures fell 47 cents, or 0.9%, to settle at $53.31
a barrel.
Although President Donald Trump has said he would like to
sign a deal when he meets his Chinese counterpart at November's
APEC summit, the U.S. commerce secretary said an initial trade
deal does not need to be finalized next month. "The key thing is to get everything right that we do sign.
That's the important element. That's what the president is
wedded to," Wilbur Ross said, after being asked if he would mind
skipping an APEC signing.
U.S. Trade Representative Robert Lighthizer told reporters
that the administration's target is still to finish phase one by
the time the APEC meetings take place in Chile on Nov. 16 and
17. He added there are outstanding issues to resolve.
Adding to tensions, China is seeking $2.4 billion in
retaliatory sanctions against the United States for
non-compliance with a WTO ruling in a tariffs case dating back
to the era of President Barack Obama, a document showed.
"The complex remains trapped in a tight trading range amidst
an ongoing tug of war between the supportive influence of a
steady equity trade and the bearish influence of continued
concerns over a major trade war that could force further slowing
in global economic growth," Jim Ritterbusch, president of
Ritterbusch and Associates, said in a report.
On the supply side, Russia, the world's second-largest oil
producer, said on Sunday it did not meet its supply reduction
commitment in September because of an increase in natural gas
condensate output ahead of winter. The Organization of the Petroleum Exporting Countries,
Russia and other oil producers, an alliance known as OPEC+,
agreed in December to cut supply by 1.2 million barrels per day
(bpd).
"Russia intends to fully comply with the agreed production
cut in October, though it is reasonable to doubt whether this
will actually be achieved," Commerzbank analyst Carsten Fritsch
said.
European refinery production in September fell 4% from the
previous month and 4.2% year-on-year, data from Euroilstock
showed on Monday. Production hit 10.451 million barrels per day
(bpd), with output declining across all refined
products.
Offering some encouragement, European shares opened slightly
higher as investors remained hopeful Britain would avoid a
disorderly exit from the European Union. Analysts have said any British-EU agreement that avoids a
no-deal Brexit should boost economic growth and oil demand.