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Oil price declines have small-cap shale investors scrambling NEW YORK: Plummeting oil prices are pushing some of the small-cap companies which flourished as part of the US shale energy boom close to their breaking point, while also prompting some well-known fund managers to aggressively buy energy stocks. Concerns about slowing growth in Europe and a stronger dollar have helped push the price of light crude oil down about 25 percent since June to about $82 a barrel, creeping closer to the average marginal cost of crude production of about $73 a barrel for US onshore work, according to a research note from Baird Equity Research.Those declines have sent the SIG Oil Exploration and Production index down 21.2 percent over the last three months. "The market is selling all of these companies, even if it's clear that $75 a barrel oil is not going to affect every company the same," said Mike Breard, an analyst who works on the ...

Oil rises after 2-day loss; US inventories seen up again NEW YORK: Crude oil prices closed higher on Tuesday, with Brent finishing just above $86 a barrel after two straight days of losses, helped by a weaker dollar and a rally on Wall Street. But worries about a third weekly build in a row in US crude inventories capped gains. Crude stockpiles in the United States were forecast to have risen 3.4 million barrels in the week to Oct. 24, while inventories of distillates and ...
Wall St ends flat, but energy shares lower NEW YORK: US stocks ended near flat on Monday, pausing after the S&P 500's biggest weekly gain since January 2013, while energy shares fell with another decline in oil prices. The Dow Jones industrial average rose 11.05 points, or 0.07 percent, to 16,816.46, the S&P 500 lost 3.06 points, or 0.16 percent, to 1,961.52 and the Nasdaq Composite added 2.22 points, or 0.05 percent, to 4,485.93. Copyright Reuters, 2014 ...
Oil, weak German data drag on stocks; Brazil sinks NEW YORK: Global equity markets slipped on Monday, hit by weak German business sentiment and another decline in oil, while Brazil slumped after incumbent Dilma Rousseff narrowly won a second term over an opponent seen as more pro-business. Major indexes on Wall Street ended mixed.The benchmark S&P 500 closed slightly lower after last week's big gains, hurt by another drop in energy shares as oil neared a four-year low. Disappointing data showing the pace of ...
Oil bucks downtrend to eke out small gain NEW YORK: Oil prices rose slightly on Friday, bouncing from near four-year lows even while marking a fourth straight weekly loss, as investors bought back into a market they said was oversold, and as fighting in Iraq increased political risk. Oil has dropped over 25 percent since June on strong supply, signs of weak demand growth and indications that key oil producers, particularly Saudi Arabia, have a limited appetite to cut output to bolster prices. ...
Oil hedging surge flips long-dated WTI into rare contango NEW YORK: Long-term US crude oil markets flipped into contango this week for the first time in years, as the dizzying descent in prices unleashed a wave of hedging by oil producers fearing prices may not stay above $80 a barrel for long.Contango, in which longer-dated futures are more expensive than near-term contracts, has yet to take hold at the prompt end of the oil futures curve, from the front month, November 2014, well into ...
Saudi price war should fuel drive for US crude exports NEW YORK: Saudi Arabia's move to keep crude oil production high, fueling a steep global price slump, may have an unexpected consequence: intensifying the campaign by U.S. producers to scrap Washington's decades-old ban on exports of domestic crude.Global oil prices plummeted nearly 5 percent on Tuesday to their lowest since 2010, as OPEC's core members showed no sign of intervening to support the market. Amid talk of a price war, Iran, generally a price hawk, ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
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WeeklyOctober 27, 2014
Reserves $13.464 bln