Glencore raises 2016 copper output guidance, lowers it on coal, oil

* Bernstein analysts say results 'broadly positive'

* Increased copper supplies will add to market surplus

* No word on zinc restarts, zinc prices stay strong (Adds analyst comment, detail, prices)

By Barbara Lewis

LONDON, Aug 11 (Reuters) - Glencore (Xetra: A1JAGV - news) on Thursday raised its full-year production guidance for copper and lowered it for coal and oil, while confirming first-half output cuts that have helped tighten an oversupplied market.

In a production report, Glencore said it was delivering on "proactive supply reductions" in copper, zinc, lead, coal and oil.

Apart from planned cuts, Glencore said its copper production for the full year was expected to rise to 1.41 million tonnes, up a modest 20,000 tonnes from previous guidance following strong performances across several assets, including Collahuasi in Chile (Stuttgart: 704599.SG - news) .

Full-year coal output was forecast to be 5 million tonnes lower at 125 million tonnes because of reduced South African production and weather-related disruption in Columbia.

Oil would be 200,000 barrels lower than previously expected at 8 million barrels following reduced worker activity in Chad and "the wish to preserve the resource for an improved margin environment", it said.

There was no word on any restart of shut-in zinc production.

Glencore announced in October last year it was cutting 500,000 tonnes of zinc output, or around 4 percent of global supply, spurring a metals market weighed down by oversupply following reduced demand in China.

In its first-half report on Thursday, Glencore said zinc output of 506,500 tonnes was 31 percent lower than the same period last year and coal at 58.8 million tonnes was 14 percent lower.

It also said first-half copper output at 703,000 tonnes was 4 percent down on the same period last year following previously announced cuts in Africa.

Commodity markets rose in the first half, handing a reprieve to resource companies hit by a slump in the price of raw materials.

But many analysts say the momentum may not last.

Benchmark copper on the London Metal Exchange has risen from a 6-1/2-year low of $4,318 a tonne in January to trade between $4,500 and $5,000.

It is up around 2 percent from the end of last year whereas zinc has risen about 40 percent so far this year.

Ahead of Glencore results later this month, analysts at Bernstein said the production report was "broadly positive" and they saw no operational obstacles to Glencore's plans to reduce debt.

Glencore has said it aims to cut its debt to between $17 billion and $18 billion by the end of this year by selling assets worth $4-5 billion, after it took a beating on the stock market in late 2015.

Its share price eased around 0.5 percent by 0805 GMT, while the wider sector slipped nearly 1 percent. (Additional reporting by Melanie Burton in Melbourne; Editing by Dale Hudson and Susan Thomas)