* Euro zone factories log first growth in 2 years * U.S. factory output soars to two-year high * Libya oil exports less than half normal rates * Coming up: U.S. payrolls data; 1230 GMT (Updates throughout, changes dateline from SINGAPORE) By Simon Falush LONDON, Aug 2 (Reuters) - Brent crude oil reached a four-month peak above $110 per barrel on Friday as strong economic data improved the demand outlook at a time of disruption to production in Africa and maintenance limiting North Sea supply. Brent futures reached a high for the day of $110.09, their loftiest in four months, before dipping 23 cents from the open to $109.31 by 0854 GMT. Brent is on track for a weekly increase of 2 percent after two weeks of losses. U.S. crude oil futures fell 5 cents to $107.84 a barrel but were still heading for an increase of 3 percent on the week. U.S. manufacturing grew in July at its fastest pace in two years, while a Chinese industrial index beat expectations this week. European factories also snapped two years of output declines, suggesting a euro zone recession may be near its end. U.S. nonfarm payroll figures due later in the day will likely return oil to positive territory, said Carsten Fritsch, analyst at Commerzbank in Frankfurt. The data is expected to show an increase of 184,000. "We're in a firm uptrend and we'll see another try higher after the payrolls," he said. "There's reason to believe we'll end above $110 per barrel (for Brent)." The European Central Bank and the Bank of England on Thursday left their interest rates at record lows, a day after the Federal Reserve said the U.S. economy still needed support and made no mention of changes to its stimulus measures. Any pullback in the Fed's easy money policies could boost the dollar and drag down assets denominated in the currency. Data on Thursday showed U.S. factory activity hitting a two-year high in July and first-time applications for jobless benefits reached a 5-1/2-year low last week. SUPPLY CRUNCH Concern over supply disruptions in Iraq, Libya and Nigeria also underpinned prices. The outages helped trim OPEC output to a four-month low in July, a Reuters survey published on Wednesday showed. OPEC output averaged 30.25 million barrels per day (bpd), down from 30.38 million bpd in June, the survey found. OPEC supply looks set to tighten further. Seaborne oil exports from OPEC, excluding Angola and Ecuador, will fall by 490,000 bpd in the four weeks to Aug. 17, an analyst who estimates future shipments said on Thursday. Iraq's production has come under pressure as Sunni insurgents target its northern pipeline, while technical problems curb output in the south. Nigerian production has been blighted by oil theft, a factor that severely dented Royal Dutch Shell and Eni's second-quarter results. (Reporting by Simon Falush; Editing by Dale Hudson)

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