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Brent oil to revisit low of $76.76 SINGAPORE: Brent oil is expected to revisit its Nov. 14 low of $76.76 per barrel, as it could have completed a rebound from this level.A Fibonacci retracement analysis on the fall from the Oct. 29 high of $87.94 to $76.76 reveals oil failed again to break resistance at $79.40, the 23.6 percent level.The drop from the Nov. 18 high of $79.95 signals a continuation of the preceding downtrend.A break above $79.40 will open the way towards the next resistance at $81.03, the 38.2 percent retracement, while a drop below $76.76 could extend to $74, a level pointed by a descending trendline.The views expressed are his own.No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses. Copyright Reuters, 2014


Oil steadies above $79 as OPEC output cut talk heats up LONDON: Brent crude oil steadied on Tuesday, holding above $79 a barrel after hitting a four-year low last week, as speculation intensified that OPEC could cut output at its meeting on Nov. 27 in Vienna.Talk about OPEC's response to a 30-percent drop in global oil prices since late-June intensified this week after calls from Venezuela to increase cooperation within the cartel as well as with non-members, including top producer Russia.A special global meeting is being ...

Oil falls below $79 as traders test OPEC's willingness to cut LONDON: Brent crude oil fell below $79 a barrel on Tuesday, dropping for the sixth session in seven as traders tested OPEC's willingness to agree a coordinated output cut at next week's meeting to prop up tumbling prices.Talk about OPEC's response to a 30-percent drop in global oil prices since June intensified this week after Venezuela called for increased cooperation within the cartel, as well as with non-members including top producer Russia.A special global meeting ...

Middle East Crude-January Murban slips into discount; Das at parity  SINGAPORE: Light sour Murban crude slipped into a discount, while Das held at parity in the Middle East crude market on Tuesday as demand for January loading cargoes remained weak in Asia.Japanese refiner Fuji Oil bought a cargo at a discount to its official selling price (OSP), traders said. The discount was at 10-15 cents a barrel, one of them said. The deal could not be independently verified.On the Platts window, BP sold a Das ...

Asia-Pacific Crude-NWS condensate supply to rise in January  SINGAPORE: Condensate came under pressure in the Asia-Pacific crude market on Tuesday as an additional North West Shelf (NWS) cargo was added to the January programme.BHP has a cargo loading on Jan. 28-Feb. 1, traders said, inaddition to four cargoes to be marketed by Woodside, BP, Petro-Diamond and Chevron.A rebound in naphtha cracks would usually support condensate values, but there is "still too much oil," said a trader. A second trader said NWSC condensate differentials ...

Brent rebounds towards $80 as OPEC rhetoric heats up LONDON: Brent crude oil reversed early losses to rise back towards $80 a barrel on Tuesday, recovering from last week's four-year low as speculation increased that OPEC could cut output at its meeting on Nov. 27.Talk about OPEC's response to a 30 percent drop in global oil prices since late-June intensified this week after calls from Venezuela to increase cooperation within the cartel as well as with non-members, including top producer Russia.A special global meeting ...

Saudi crude oil exports edge up to 6.72mn bpd in Sept DUBAI: OPEC heavyweight Saudi Arabia's crude oil exports edged up in September by around 59,000 barrels per day (bpd) while volumes used by domestic refineries remained high, official data showed on Tuesday.The world's top oil exporter shipped 6.722 million bpd of crude in September, up from 6.663 million in August but lower than July's 6.989 million, data published by the Joint Organisations Data Initiative (JODI) showed.Production rose to 9.704 million in September from 9.597 million ...


 



 
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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