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Oil prices lifted by US production decline LONDON: Oil prices rose on Wednesday after the US government's Energy Information Administration (EIA) reported a decline in US production. Brent crude for June delivery was up 66 cents at $62.74 a barrel by 1358 GMT, after touching an intraday low of $61.39. US crude for June delivery was up 20 cents to $56.81 a barrel, after reaching a low of $55.73 earlier in the session. The EIA said on Wednesday that US production declined by 18,000 barrels per day (bpd) last week, a fall of 0.19 percent."It's another decline in production and the market is certainly anxiously awaiting more of those, at least people who are on the long side," said Dominick Chirichella, senior partner at New York's Energy Management Institute.US crude stocks, however, rose by 5.3 million barrels last week, higher than the 2.9-million-barrel build expected by analysts in a Reuters survey, to a record 489 million barrels. ...


US crude oil inventories rise as refiners pare record runs NEW YORK: US crude stocks rose nearly twice as much as expected last week as refineries cut output from a seasonal record high, while gasoline stocks unexpectedly fell and distillate inventories rose, data showed on Wednesday. Crude inventories rose by 5.32 million barrels to 489 million in the last week, according to data from the Energy Information Administration (EIA), compared with analysts' expectations for an increase of 2.9 million barrels. It was the 15th consecutive ...

Oil extends losses as Saudis halt Yemen strikes LONDON: Global oil prices fell on Wednesday after a Saudi-led coalition declared an end to four weeks of air strikes in Yemen, and ahead of a key US supply report.Brent North Sea crude for delivery in June delivery dropped 44 cents to $61.64 a barrel in London midday deals.US benchmark West Texas Intermediate for June dipped 48 cents to $56.13 a barrel compared with Tuesday's close."Oil sagged after Saudi Arabia ended its military campaign in ...

Oil prices drop as Middle East tension ease SINGAPORE: Oil prices extended declines from the previous session on Wednesday as Middle East tension eased after Saudi Arabia ended an air strike campaign in Yemen, but industry leaders said the market could rebound as attention turned to rising demand.Saudi Arabia said on Tuesday it was ending a month-long military campaign against the Houthi rebels who seized large areas of Yemen, bringing hope of a peaceful political solution to the conflict in the key oil ...

Vitol CEO sees another short dip in oil prices in Q2 LAUSANNE: Oil prices will likely dip briefly in the second quarter of 2015 as refineries undergo maintenance works, but they should not go below this January's lows of $46 per barrel, the head of the world's largest oil trader Vitol, Ian Taylor, told Reuters on the sidelines of the FT Commodities Summit. Copyright Reuters, 2015

Oil prices down in Asian trade SINGAPORE: Oil prices eased in Asia on Tuesday as dealers weighed China's fresh monetary stimulus against a supply glut in the United States, analysts said. US benchmark West Texas Intermediate for May delivery declined four cents to $56.34 while Brent crude for June fell 11 cents to $63.34 in afternoon trade."The oil market is being pushed in two directions with the stimulus action by China going against the oversupply situation of crude in the United ...

Iraq oil exports slip so far in April, still near record LONDON: Iraq's oil exports have slipped so far in April to 2.92 million barrels per day (bpd), according to loading data and industry sources, although shipments from OPEC's second-largest producer remain close to a record high. If sustained, Iraq's exports this month will be just short of the record of 2.98 million bpd set in March. Another strong month from Iraq adds to signs of continued high output from major members of the Organization of ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln