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Oil prices down in Asian trade SINGAPORE: Oil prices eased in Asia on Tuesday as dealers weighed China's fresh monetary stimulus against a supply glut in the United States, analysts said. US benchmark West Texas Intermediate for May delivery declined four cents to $56.34 while Brent crude for June fell 11 cents to $63.34 in afternoon trade."The oil market is being pushed in two directions with the stimulus action by China going against the oversupply situation of crude in the United States," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP. The People's Bank of China Sunday cut by one percentage point the amount of cash lenders must keep in reserve, the second reduction this year and the latest easing measure aimed at kickstarting the world's number-two economy. It has also cut interest rates twice since November.Despite prices being lifted slightly on hopes that the Chinese stimulus will spur demand, McCarthy said dealers ...


Iraq oil exports slip so far in April, still near record LONDON: Iraq's oil exports have slipped so far in April to 2.92 million barrels per day (bpd), according to loading data and industry sources, although shipments from OPEC's second-largest producer remain close to a record high. If sustained, Iraq's exports this month will be just short of the record of 2.98 million bpd set in March. Another strong month from Iraq adds to signs of continued high output from major members of the Organization of ...

UAE's ADNOC says no timeframe for decision on onshore concession ABU DHABI: Abu Dhabi National Oil Company (ADNOC) does not have a deadline for when to award further stakes in its 40-year onshore oilfield concession, the director general of the state run company said on Monday. The comment suggests ADNOC, which signed an agreement on Jan. 29 with France's Total giving the firm a 10 percent stake in the new concession, is in no rush to make a decision about other bidders in the tender. Total's ...

Oil prices mixed after China stimulus move LONDON: Oil prices diverged Monday as the market assessed fresh stimulus action by China against a background of a US crude supply glut.US benchmark West Texas Intermediate for May delivery gained 17 cents to $55.91 a barrel.Brent North Sea crude for June fell 66 cents to stand at $62.79 a barrel in London afternoon deals and after recent strong gains.China's central bank has cut the reserve requirement ratio (RRR) -- or amount of cash that ...

Oil prices rise in Asian trade SINGAPORE: Oil prices rose in Asia Monday, fuelled by sustained unrest in the crude-rich Middle East, while also gaining support on hopes that declining US production will ease a global supply glut, analysts said. US benchmark West Texas Intermediate for May delivery gained 68 cents to $56.42 while Brent crude for June gained 70 cents to $64.15 in afternoon trade. "Escalating conflicts in Yemen, a drop in the US rig count and weak US inventory ...

Brent rises above $64 after Yemen oilfield retreat LONDON: Oil prices repaired early losses to rally above $64 on Friday due to the conflict in Yemen. Brent crude was within sight of its 2015 high reached on Thursday and has rallied 16 percent in April, supported by Yemen and the prospect that lower prices are starting to curb US shale output.At 1509 GMT, Brent crude for June was up 25 cents at $64.23 a barrel. It hit a 2015 high of $64.95 on ...

Global LNG: Steady flow of supply caps market upside LONDON: Asian spot liquefied natural gas (LNG) prices for May delivery were steady this week as a smattering of fresh supply and demand was not enough to give the market clear direction. The price of Asian spot cargoes held steady at $7.10 per million British thermal units (mmBtu), in line with the previous week. "It's been fairly static," a trader said, adding that there had been limited activity over the week. South Korea, the world's ...


 



 
Index Closing Chg%
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln