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Crimea clouds oil market outlook: IEA PARIS: The global oil market is returning to a rough balance but Russia's annexation of Crimea has clouded the outlook with both supply and demand growth to slow, the International Energy Agency said Friday.While the IEA has recently been warning of tight markets as oil demand picks up with a recovery of the global economy, it said stocks had improved and a slowdown in the Russian economy would also help relieve pressure.The IEA left its global demand forecast for 2014 roughly unchanged at 92.7 million barrels per day (mbd), and a trim to its forecast for growth in non-OPEC supplies means the global market will need more oil from the cartel later this year."One month after the events in Crimea, market watchers are taking stock of their impact on oil markets," said the Paris-based institution which analyses energy markets for the world's top oil-consuming nations."Given the still volatile nature of ...


Crude oil prices fall further in Asia SINGAPORE: Oil prices extended losses in Asian trade Friday as data showing a slowdown in China's giant economy sparked concerns about weak demand.Expectations that Libyan oil will return to the market after rebels lifted a blockade of crude terminals also helped push prices lower, analysts said.New York's main contract West Texas Intermediate for May delivery eased 33 cents to $103.07 a barrel in afternoon trade while Brent North Sea crude dipped 24 cents to $107.22 ...

Crude oil prices fall further in Asia SINGAPORE: Oil prices extended losses in Asian trade Friday as data showing a slowdown in China's giant economy sparked concerns about weak demand.Expectations that Libyan oil will return to the market after rebels lifted a blockade of crude terminals also helped push prices lower, analysts said.New York's main contract West Texas Intermediate for May delivery eased 16 cents to $103.24 a barrel in mid-morning trade while Brent North Sea crude tumbled 12 cents to $107.34 ...

U.S. oil reserves jump on shale but gas tumbles in 2012: EIA NEW YORK: Proven U.S. oil reserves in 2012 reached the highest level since 1976, boosted by shale plays in Texas and North Dakota, but gas reserves tumbled for the first time in a decade due to low prices, the Energy Information Administration said on Thursday.Production in the world's largest oil consumer is booming thanks to shale oil and gas recovered from tight rocks by drilling long horizontal wells and hydraulically fracturing them, or "fracking."The boost ...

Oil prices drop after weak Chinese data LONDON: Oil prices fell on Thursday after weak Chinese trada data, but losses were curbed by upbeat US demand and lingering doubts about the full resumption of Libyan exports, analysts said. New York's main contract West Texas Intermediate (WTI) for May delivery dipped nine cents to $103.51 a barrel.Brent North Sea crude for May slid 42 cents to stand at $107.56 a barrel in London late morning trade.Government data on Thursday showed Chinese imports slumped ...

Brent dips towards $107 on weak China trade data SINGAPORE: Brent futures eased towards $107 a barrel on Thursday on weak China trade data and as investors booked profits after gains of 2 percent in the past two days. The losses though were stemmed by optimism over a healthier demand growth outlook from the Asian giant and the United States. China's exports unexpectedly fell for the second straight month in March and import growth dropped sharply, intensifying concerns about weak manufacturing and slowing growth ...

China March crude imports drop to 5-month low BEIJING: China's crude oil imports in March fell to a five-month low, official data showed on Thursday, dropping to less than 6 million barrels per day (bpd) after three months of high inbound shipments and gains in fuel product inventories. The crude imports rose 2 percent compared to the same month a year ago as state-oil firms started up larger term contracts with suppliers such as Iraq and Russia to feed new refineries that came ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln