* Markets shrug off strong euro zone GDP growth
* OPEC monthly report signals slow 2011 demand growth
* U.S. retail sales, consumer sentiment improve slightly
(Recasts, updates prices, market activity, changes byline
and moves dateline from previous LONDON)
By Robert Gibbons
NEW YORK, Aug 13 (Reuters) - Crude oil prices fell a fourth
straight day on Friday as concerns about faltering economic
growth weighing on equities and oil were not alleviated by
fresh retail sales and consumer sentiment reports.
U.S. retail sales rebounded in July but the gains were
concentrated in autos and gasoline station sales and showed
hints of lingering economic softness. []
Consumer sentiment showed improvement in August, but as
with the retail sales data, there were still signs people
remain nervous about the near term.
U.S. crude for September <CLc1> delivery fell 40 cents to
$75.34 a barrel at 12:43 p.m. EDT (1643 GMT), having traded
from $75.05 to $80.40. Front-month ICE Brent crude <LCOc1> fell
52 cents to $75 a barrel.
Oil prices were on track to end 6 percent lower from a week
ago, having been pummeled earlier in the week by a jobless
claims rise highlighting a fragile U.S. employment sector and
rising refined fuel stockpiles punctuating tepid demand.
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"The whole week has been about poor economic data and
today's releases show that the U.S. consumer is still on the
mend," said Harry Tchilinguirian, commodity strategist at BNP
Paribas.
"Retail sales disappointed and if consumer confidence in
August managed to come in a notch above expectations ... it
still remains below the June reading."
The U.S. dollar rose and headed for its strongest weekly
performance in almost two years against a basket of currencies
after lackluster results in an Italian bond auction weighed on
the euro. The euro fell to a three-week low against the
dollar.
Earlier on Friday, strong euro zone economic data pushed
oil prices up $1, before the rally by European stocks and the
euro gave way.
Euro zone gross domestic product grew at its fastest pace
in more than three years in the second quarter, boosted by
strong performances in Germany and France. []
[]
OPEC DEMAND VIEW LITTLE CHANGED
The Organization of the Petroleum Exporting Countries said
in a monthly report that oil demand growth would continue be
slow in 2011, when world economic expansion is projected to be
slightly lower than in 2010, leaving the current supply
overhang intact. []
And with U.S. crude oil inventories remaining at a premium
to year-ago levels, OPEC members' production has been creeping
higher. Members with output quotas -- all except Iraq --
produced 26.861 million barrels per day in July, 142,600 bpd
more than in June.
In July, OPEC members met 52 percent of the 4.2 million bpd
cuts producers agreed to in 2008, down from 55 percent in June,
according to Reuters calculations. based on OPEC data.
On Thursday, oil prices slipped on a report that the number
of people filing new jobless claims in the United States
unexpectedly rose to its highest level in close to six months,
another sign of sluggish economic recovery. []
That followed Wednesday's report showing U.S. refined oil
products stocks, including gasoline, rose last week even at the
height of the summer driving season, according to the U.S.
Energy Information Administration. []
(Additional reporting by Gene Ramos in New York, Emma Farge in
London and Florence Tan in Singapore; Editing by Marguerita
Choy)
