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Oil prices steady as Iran talks drag on LONDON: Oil prices were largely steady Wednesday as marathon talks aimed at preventing Iran from getting a nuclear bomb went into a nail-biting extension.Traders meanwhile awaited the latest snapshot of US crude inventories for indications of demand in the world's biggest economy.Brent North Sea crude for delivery in May edged up seven cents to stand at $55.18 a barrel around midday in London. US benchmark West Texas Intermediate (WTI) for May slipped 34 cents to $47.26 a barrel compared with Tuesday's close. "The nuclear talks with Iran extended over the deadline. However, it seems to lean towards an agreement," said Daniel Ang, investment analyst with Phillip Futures. "Iran produces a high volume of crude and if the sanctions are eventually lifted, this will push both the WTI and Brent downwards for a prolonged period," he said. Industry is the cornerstone of Iran's economy, but it has been hit hard by ...


Oil prices slip under $55 Iran talks extend beyond deadline LONDON: Brent crude oil futures slipped below $55 a barrel on Wednesday on speculation that a last-minute deal over Iran's nuclear programme would be reached, opening the way for more Iranian crude to come into world markets.Talks between Iran and six world powers to settle a dispute around Tehran's nuclear programme extended beyond a Tuesday deadline.Efforts to reach a framework deal were scheduled to continue on Wednesday morning in the Swiss city of Lausanne.Brent crude ...

West African crude oil exports to Asia rise to 2.34mn bpd in April LONDON: West African crude oil exports to Asia are set to rise by 30 percent to 2.34 million barrels per day (bpd) in April, up from 1.78 million bpd initially planned for March, according to a Reuters survey of traders and ship-tracking data on Tuesday.A flurry of buying from Indian refiners, led by state-run IOC, was the primary source of the increase. Indian refiners booked a total of 34 lots of West Africa crude to ...

Asia-Pacific Crude-ESPO weakens amid ample supply SINGAPORE: Spot differentials for Russia's ESPO Blend weakened in the Asia-Pacific crude market amid increasing supply of the grade.Rosneft sold a cargo of ESPO crude loading May 8-11 to Glencore at $1.90-$2 a barrel above Dubai quotes, traders said. The price was near the bottom of the range of previous May-loading cargoes.Surgut earlier sold two cargoes of the grade for loading in the second half of May at a premium of $2.30-$2.50 a barrel, according ...

Middle East Crude-PetroChina purchases underpin Dubai SINGAPORE: Strong demand from PetroChina supported the cash Dubai price in the Middle East crude market on Wednesday.PetroChina snapped up 41 June Dubai partials from Shell and Unipec on the first day of trading. The deals led to the deliveries of two Upper Zakum cargoes to Chinaoil, a trader said.Trade was otherwise muted as industry players await monthly prices from Gulf producers which are mostly expected to raise them after most May-loading cargoes traded in ...

Oil holds around $55 as Iran nuclear talks drag on LONDON: Brent crude oil futures held around $55 a barrel as speculation continued over whether a preliminary deal over Iran's nuclear programme would be reached, opening the way for more Iranian crude to come into world markets.Talks between Iran and six world powers to settle a dispute around Tehran's nuclear programme extended beyond a Tuesday deadline in the Swiss city of Lausanne.Brent crude for May delivery was down 3 cents at $55.08 a barrel by ...

Price of Russian gas may fall to $220 per tcm in Q3 KIEV: The price of Russian gas for Ukraine could fall to $220 per thousand cubic metres in the third quarter, Ukrainian Energy Minister Volodymyr Demchyshyn said on Wednesday."It could fall to $220," he told journalists after a briefing in which he said he expected Ukraine and Russia would sign a memorandum on gas supplies by April 14 that will run until the end of March 2016.Demchyshyn said that due to the fall in world energy ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 20, 2015
Reserves $16.132 bln