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Oil falls to lowest since 2010 as OPEC ups supplies LONDON: Brent crude oil fell to its lowest since 2010 on Friday, dropping below $90 a barrel as Saudi Arabia said it upped production last month, increasing speculation of an OPEC price war. Fast-rising oil output in North America and tepid economic growth had raised expectations the Organization of the Petroleum Exporting Countries will cut output when it meets in November to stem a near 25 percent price slide since June. But on Friday Saudi Arabia said it had raised its oil production by 100,000 barrels per day (bpd) in September, raising doubts the world's top exporter will be prepared to take unilateral action. "It's panic mode. Panic and capitulation. We are now in uncharted territory," said Carsten Fritsch, commodities analyst at Commerzbank. "The rout will probably continue until OPEC says enough is enough." Brent crude for November delivery was down 77 cents at $89.28 a barrel by 1040 GMT, ...


Brent at four-year low on global economy fears SINGAPORE: Crude prices tumbled Friday, with Brent hitting a four-year low on concerns about the global economy while the head of the IMF warned the eurozone could slip back into recession.Brent's November contract was trading at $88.40 a barrel in afternoon Asian trade, down $1.65 dollars the day before and at levels last seen in November 2010. US benchmark West Texas Intermediate for November delivery was down $1.92 to $83.85, its weakest level since June ...

Venezuela fined $1.6bn for taking ExxonMobil assets NEW YORK: A World Bank arbitration panel Thursday ruled that the Venezuelan government must pay ExxonMobil $1.6 billion to compensate for taking control of the US firm's heavy-oil project in the country.A three-member arbitration panel for the Washington-based International Centre For Settlement of Investment Disputes (ICSID) unanimously granted the award to the biggest US oil company following the June 2007 expropriation of the Cerro Negro project in Venezuela, a heavy-oil region known as the Orinoco ...

Oil prices extend losses on demand fears SINGAPORE: Oil prices sank Friday to more than two-year lows as weak economic data from Germany underscored concerns over a global economic slowdown and its impact on energy demand, analysts said.In Asian trade US benchmark West Texas Intermediate for November delivery tumbled $1.49 to $84.87, its weakest level since June 2012.Brent crude fell $1.61 to $88.44, also the lowest level since June 2012.The losses come as equities markets suffer another heavy sell-off.Another round of negative ...

UK gas prices rise on lower flows, under supplied system LONDON: Wholesale natural gas prices in Britain firmed on Thursday amid lower flows from Norway and an under supplied system.Day-ahead prices opened higher and hit a four-day peak of 51.0 pence/therm before falling back to 49.95 pence by 0852 GMT, a daily gain of 0.9 percent."A heavy drop in Langeled flows is the main bullish driver for the day-ahead contract, and oil is traded slightly up, offering some additional support," analysts at Thomson Reuters Point ...

Brent crude price drop prompts buying spree by China SINGAPORE/BEIJING: A 20 percent drop in global oil prices has whetted top energy consumer China's appetite for crude with PetroChina snapping up more than 8 million barrels in just over a week.Ample crude oil supply and lower economic growth from China to Europe has hammered oil prices over the past three months, with Brent this week hitting its lowest in more than two years.But prices may have reached a point where consumers such as China ...

Oil resumes fall back to $91 on economy worries, supply glut LONDON: Brent oil fell to $91 a barrel on Thursday, heading back to over two year lows, as a supply glut and concerns about global growth have pushed it 20 percent down from its peak in June.Brent for November delivery was down 34 cents at $91.04 by 1005 GMT, having fallen to $90.98 minutes earlier. The front-month contract fell as low as $90.57 on Wednesday, the lowest since June 2012, before recovering to close at ...


 



 
Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln