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Oil prices extend losses ahead of OPEC meeting SINGAPORE: Oil prices extended losses in Asia Wednesday as speculation swirls that the OPEC oil cartel will maintain output at this week's closely watched meeting despite a global supply glut. US benchmark West Texas Intermediate (WTI) for January delivery fell 24 cents to $73.85 while Brent crude for January eased 17 cents to $78.16 in mid-morning trade. WTI dived $1.69 Tuesday while Brent closed down $1.35."At the moment, the outcome of the OPEC meeting on Thursday is very much trumping all other factors," Daniel Ang, investment analyst at Phillip Futures in Singapore, told AFP. "Prices have come under pressure after the meeting between some OPEC members and Russia saw no real concrete measures announced regarding production cuts," Ang said. Members of the Organization of Petroleum Exporting Countries and non-member producers including Russia held talks Tuesday ahead of the cartel's key output meeting on Thursday. After the meeting, Venezuelan Foreign Minister ...

Oil steady around $80 ahead of OPEC output decision LONDON: Brent crude oil prices steadied around $80 a barrel on Tuesday ahead of a meeting of OPEC oil producers to decide on production levels for next year.Oil market watchers are divided on the outcome of the Organization of the Petroleum Exporting Countries meeting this Thursday in Vienna. Predictions range from a large production cut to revive prices, to a small reduction, or none at all.Oil prices have fallen by almost a third since June ...

Brent above $80 as Saudis holds talks ahead of Thursday OPEC NEW YORK: Oil prices rose on Tuesday, with Brent crude above $80 per barrel, after news that Saudi Arabian Oil Minister Ali al-Naimi was meeting with his Russian, Venezuelan and Mexican counterparts ahead on an OPEC meeting that could cut output.Oil ministers from OPEC member countries will hold a summit in Vienna on Thursday amid a drop of roughly 30 percent in oil prices since June.Tuesday's talks with al-Naimi was also attended by Russia's most ...

LNG tanker Al Utouriya set to arrive at UK's Isle of Grain Nov. 26 LONDON: Liquefied natural gas (LNG) tanker Al Utouriya is set to arrive at Britain's Isle of Grain terminal on November 26, Reuters shipping data shows. The tanker has a capacity of around 212,000 cubic metres.Copyright Reuters, 2014

Brent crude drops to $79.20 as expectation of big OPEC cut wanes SINGAPORE: Brent crude oil prices fell towards $79.20 on Tuesday as traders lowered their expectation of a significant output cut by OPEC, but the market received some support from an uptick in German GDP and hopes of strengthening US data later in the day. Oil ministers from the Organization of Petroleum Exporting Countries (OPEC) meet on Thursday in Vienna and some are imploring the group to cut 1 million barrels per day or more to ...

Prices rise as cold weather boosts consumption LONDON: Prompt natural gas prices in Britain rose on Tuesday morning as consumption rose due to colder weather. Prices for next-day delivery rose to 58.35 pence per therm at 0808 GMT, up 0.90 pence from the previous settlement. Gas for immediate delivery was 0.55 pence higher at 58.25 pence per therm. Temperatures are forecast to be around 3 degrees Celsius on average in Britain on Tuesday, 3 degrees below normal levels for the time of ...

Oil steady below $80 ahead of OPEC output decision LONDON: Brent crude oil prices steadied under $80 a barrel on Tuesday ahead of a key meeting of OPEC oil producers to decide on oil production levels for next year. Ministers from the Organization of the Petroleum Exporting Countries were gathering in Vienna for a meeting on Thursday to agree how to respond to a collapse in oil prices, which have fallen by almost a third since June. Several OPEC members want the group to ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln