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Oil above $58 on US shale report, Mideast tension LONDON: Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tensions in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war.Brent crude was up 32 cents at $58.25 a barrel by 1339 GMT, while U.S. crude was up 57 cents at $52.48.The U.S. Energy Information Administration (EIA) said on Monday it expected U.S. shale production to fall by 45,000 barrels per day (bpd) to 4.98 million bpd in May.Shale production has helped boost U.S. oil output by more than 4 million bpd since 2010 and has been a key factor behind the collapse in world oil prices over the last year.But a collapse in oil prices from above $115 a barrel last June, have now begun to hit exploration."It's a small change, just a drop in the ocean, but ...


Oil above $58 on US shale output report, Mideast LONDON: Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tension in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war.Brent crude was up 30 cents at $58.23 a barrel by 1000 GMT, while U.S. crude was up 40 cents at $52.31.The U.S. Energy Information Administration (EIA) said on Monday it expected U.S. shale ...

Middle East Crude-Murban premium hits 19-month high SINGAPORE: Spot premiums in the Middle East crude market rose, with Abu Dhabi's flagship Murban hitting a 19-month high, on tighter supplies and robust demand, trade sources said.While the end of seasonal refinery maintenance in Asia and firm margins buoyed demand for June-loading cargoes, supplies from the Middle East have tightened from March after Saudi Arabia and Abu Dhabi trimmed the volume of crude loaded for buyers in the east.It's a combination of "tighter supply ...

Oil prices higher in Asian trade SINGAPORE: Crude prices rose further in Asia on Tuesday on forecasts US shale oil production will decline and hopes the Chinese government will roll out a stimulus package for the slowing economy.A drop in US production is expected to help ease the supply glut that has sent oil prices collapsing since June last year, while a stimulus package could boost demand in China, the world's biggest energy user, analysts said.US benchmark West Texas Intermediate for ...

Oil edges up as Iran uncertainty, Yemen turmoil support NEW YORK: Crude futures rose on Monday, but closed well below intraday peaks, as concerns about Iran and turmoil in Yemen supported prices, while the global supply glut continued to cap gains.Also supportive to crude, US diesel futures rose on news that Colonial Pipeline shut on Sunday its distillate pipeline running from Texas to North Carolina after a breach. Brent May crude rose 6 cents to settle at $57.93 a barrel, having swung between $57.46 ...

Oil pares early gains as supply glut continues to weigh NEW YORK: Crude futures edged up but relinquished early gains and briefly turned lower in choppy trading on Monday as a global supply glut continues to cap gains and traders took profits after oil's earlier push higher.Prices rose initially on concerns about turmoil in Yemen, expectations for no quick return to the market of Iranian barrels if a deal is reached on Tehran's nuclear program and the slowdown in U.S. drilling.Weak export data from China ...

Oil rises towards $59, supported by US drilling slowdown LONDON: Brent rose towards $59 a barrel on Monday in a volatile market, continuing gains after a strong end to last week as financial traders increased bets on higher prices amid a slowdown in U.S. drilling.Front-month Brent crude futures were up 82 cents at $58.69 a barrel by 0934 GMT, having earlier touched $59.54. U.S. crude had risen 78 cents to $52.42 a barrel, after touching $53.10."We found a bit of a momentum this morning," ...


 



 
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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