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Kuwait says oversupply pressuring oil price, hopes for recovery KUWAIT: Kuwait's Oil Minister Ali al-Omeir on Sunday said the drop in the oil price was a result of excess supply and a decline in the global economy.The recovery of the oil price is dependant on the recovery of the global economy, Omeir told reporters in Kuwait."We know there is a decline in prices as a result of excess supply in production and the result of a decline in global demand and the global economy. We hope that the indicators will improve." Copyright Reuters, 2015

Gazprom's Medvedev to meet EU antitrust chief next month BRUSSELS: Gazprom's deputy chief executive is expected to meet EU antitrust chief Margrethe Vestager next month in a meeting that could determine the outcome of the EU's case against the Russian gas giant, a person familiar with the matter said on Friday. The Russian state-controlled company is fighting accusations of over-charging customers and blocking rivals in eastern Europe, a case which could end in a hefty fine and changes to its business model. At the ...

Oil prices retreat LONDON: Oil prices retreated Friday, pushed down by excess supplies, but managed a rise over the week thanks to support from geopolitical tensions in the crude-rich Middle East.At about 1300 GMT, US benchmark West Texas Intermediate for delivery in January was down 94 cents at $42.10 a barrel.Brent North Sea crude for January dipped 27 cents from Thursday's close to stand at $45.19 a barrel.This week's oil price falls were capped by the shooting down ...

Japan's JX sees Marifu refinery turnaround in Jan-March TOKYO: Japan's biggest oil refiner, JX Nippon Oil & Energy Corp, said on Friday it would conduct scheduled maintenance on the 127,000-barrel-per-day (bpd) No.4 crude distillation unit (CDU) at its Marifu refinery in western Japan from Jan. 24 to March 11.Copyright Reuters, 2015

Exxon says no explosion at Joliet, Illinois refinery HOUSTON: Exxon Mobil Corp said there was no explosion on Thursday at its 238,600 barrel per day (bpd) Joliet, Illinois, refinery, contrary to multiple messages across social media platforms. "We also felt/heard something at my home about 20 miles (32 km) east of the refinery but refinery operations are 100 percent normal," said Exxon spokeswoman Tricia Simpson. "In fact, the shift superintendent (at the refinery) didn't hear or feel anything." Patti Thompson, spokeswoman for the ...

Oil eases on persistent supply glut, production outlook CALGARY: Oil prices fell on Thursday after six days of gains, as concerns that escalating tension in the Middle East could disrupt supply faded, and the focus returned to a persistent market glut. Brent crude settled down 71 cents at $45.46 a barrel, having earlier dropped more than $1 to a session low of $45.00 a barrel. West Texas Intermediate (WTI) futures, the US crude benchmark, were 53 cents lower at $42.51 per barrel at ...

Oil prices hold above $43 in Asia SINGAPORE: Oil prices held above $43 a barrel in Asia Thursday after US commercial crude supplies rose at a slower pace, while jitters lingered over the shooting down by Turkey of a Russian warplane.Data from the US Department of Energy released Wednesday showed the country's commercial crude supplies rose by 1.0 million barrels for the week ending November 20.The increase for a ninth straight week kept supplies more than 100 million barrels above the five-year ...


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ArrowNasdaq 5,127.52 0.22
ArrowS&P 2,090.11 0.06
ArrowFTSE 6,375.15 0.28
ArrowDAX 11,293.76 0.24
ArrowCAC-40 4,930.14 0.32
ArrowNikkei 19,883.94 0.30
ArrowH.Seng 22,068.32 1.87
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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln