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US says welcomes oil deal between Iraqi Kurdistan and Baghdad ISTANBUL: The United States welcomes an agreement between Iraq's central government in Baghdad and its northern Kurdistan region over the management of oil exports, US Vice President Joe Biden said on Saturday.Biden told an Atlantic Council summit in Istanbul that Washington also supported the development of an oil pipeline from Iraq's Basra to Turkey's Mediterranean port of Ceyhan.Copyright Reuters, 2014


Oil nears $80 on possible OPEC cut, strong US data LONDON: Brent crude oil rose towards $80 a barrel on Friday on speculation OPEC could agree output cuts at a meeting next week, with strong US economic data also bolstering prices. Venezuela reiterated its call for production cuts, with Foreign Minister Rafael Ramirez saying it was willing to curb its own output if the Organization of the Petroleum Exporting Countries agreed to reduce production at its Nov. 27 gathering. Libya and Ecuador have also called ...

Oil market climbs on new hopes of OPEC output trim LONDON: Global oil prices rallied Friday on fresh hopes that the OPEC cartel will overcome internal resistance to trim output, while upbeat US economic data also provided support, analysts said.Nearing midday, Brent North Sea crude for delivery in January jumped $1.27 to $80.60 a barrel.US benchmark West Texas Intermediate for January advanced 93 cents to $76.78 per barrel."Brent ... rose to $80 a barrel on Friday on speculation that OPEC could agree to output cuts ...

Oil prices rise on fresh hopes of OPEC output trim SINGAPORE: Oil prices rose in Asia Friday on fresh hopes that the OPEC cartel will overcome internal resistance to trim output, while upbeat US economic data also provided support, analysts said.US benchmark West Texas Intermediate for January delivery climbed 43 cents to $76.28 on the contract's first day of trading. Brent crude for January gained 31 cents to $79.64 in afternoon trade.Prices recovered slightly after three days of losses owing to "changing expectations" on the ...

Oil prices rise on fresh hopes of OPEC output trim SINGAPORE: Oil prices rose in Asia Friday on fresh hopes that the OPEC cartel will overcome internal resistance to trim output, while upbeat US economic data also provided support, analysts said. US benchmark West Texas Intermediate for January delivery climbed 48 cents to $76.33 on the contract's first day of trading. Brent crude for January gained 32 cents to $79.65 in mid-morning trade. Prices recovered slightly after three days of losses owing to "changing expectations" ...

Oil steadies above $78 as market awaits OPEC LONDON: Brent crude oil steadied above $78 a barrel on Thursday as reports that oil producers would agree to cut output next week offset weak economic data from China and Europe.Ministers from the Organization of the Petroleum Exporting Countries will meet in Vienna on Nov. 27 to decide how to respond to a collapse in oil prices that have fallen more than 30 percent in five months.The chances of an OPEC agreement to cut production ...

Oil market drops as OPEC seen holding output ceiling LONDON: Global oil prices fell Thursday as traders deemed that the OPEC cartel was unlikely to trim output at its key production meeting next week.Nearing midday, Brent North Sea crude for delivery in January dipped 40 cents to $77.70 a barrel.US benchmark West Texas Intermediate for December slid 25 cents to $74.33 per barrel. "The Brent price fell ... below the $78 per barrel mark because any major cut in OPEC production is regarded as ...


 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln