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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 at its meeting next week, with strong US economic data also bolstering oil prices," said ETX Capital analyst David Papier.Prices recovered slightly after three days of losses owing to "changing expectations" on the outcome of an OPEC production meeting on November 27, added analysts at Singapore's United Overseas Bank (UOB)."Investors are now speculating that OPEC will be able to agree to a small cut or a stronger commitment to rein in excess oil production and ...


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 ...

Middle East Crude-Qatari condensate discounts widen SINGAPORE: January spot discounts for Qatari condensate hit multi-month lows in Asia on Thursday as demand from splitters declined on weak petrochemical margins.Operators of condensate splitters turned to buying cheaper naphtha, while the sharp fall in differentials for deodorised field condensate (DFC) and low sulphur condensate (LSC) likely attracted buying interest from refiners, traders said.Limited demand caused a supply build-up in December with 4-5 cargoes still available for last week, said a trader, adding that ...

Asia-Pacific Crude-Ruby stronger; Brent-Dubai gap at 3-1/2 month high SINGAPORE: January spot premiums for Vietnam's Ruby crude edged higher on stronger demand as a slump in the Asia-Pacific crude market appeared to have bottomed, traders said on Thursday.PV Oil, the marketing arm of PetroVietnam, sold two 300,000-barrel cargoes of Ruby loading Jan. 8-14 and Jan. 22-28 to Vitol and SK Energy at 50-70 cents a barrel above dated Brent. The deals could not be independently verified.The medium sweet grade was last month sold at ...


 



 
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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