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Oil prices dip on US crude data, OPEC speculation NEW YORK: Oil prices dipped Wednesday following mixed US crude-inventory data and reports suggesting an OPEC production cut is unlikely when the organization meets in November. US benchmark West Texas Intermediate for October delivery shed 46 cents to close at $94.42 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for November delivery slipped eight cents to $98.97 a barrel in London.US crude inventories unexpectedly increased by 3.7 million barrels for the week ending September 12, according to the Department of Energy. Analysts had expected inventories to fall by 1.2 million barrels, a survey by Dow Jones Newswires showed.However, John Kilduff, founding partner at Again Capital, said the surprising increase in crude stocks was countered somewhat by other aspects of the US oil-supply report. The report showed a drop of 1.6 million in gasoline stocks, whereas analysts had expected the level to be unchanged. Analysts also cited a ...

PDVSA says ends 'major' maintenance on Puerto La Cruz refinery CARACAS: Venezuelan state oil company PDVSA said on Wednesday it completed a "major" 42-day maintenance on a distillation unit at its Puerto La Cruz oil refinery.Puerto La Cruz is a 187,000 barrel-per-day refinery located on the Caribbean coast. The unit in question processed 70,000 barrels per day, PDVSA added in a statement on its web site.Copyright Reuters, 2014 ...
Oil up on OPEC production cut talk, Libya paring output NEW YORK: Brent and US crude futures rose more than a dollar on Tuesday on the prospect of a possible OPEC production cut and on news that Libya curbed output after rockets hit an area near a refinery.Oil prices received more lift when Russia said deploying troops in Crimea, which Russia annexed from Ukraine in March, was a top priority with NATO holding military exercises in the Ukraine near its border with Poland.Oil prices pushed ...
Brent little changed after dipping to 26-month low NEW YORK: Brent crude oil futures ended little changed on Monday after weak Chinese economic data sent prices to a 26-month low earlier in the day, while US crude rose after bouncing off a technical support level near a 16-month low reached last week.Oil prices dropped early on data showing China's factory output grew in August at the weakest pace in nearly six years, while growth in other key sectors also cooled, raising fears the ...
Oil prices fall on concerns about oversupply NEW YORK: Oil prices dropped on Friday, resuming a downward tilt due to concerns about a mismatch between lofty petroleum supplies and tepid demand growth. US benchmark West Texas Intermediate for October delivery fell 56 cents to $92.67 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for October delivery shed 97 cents to $97.11 a barrel in London, its lowest closing price since June 2012.Friday's drop resumed a trend in September towards ...
Exxon says Beaumont refinery gasoline unit remains shut HOUSTON: Exxon Mobil Corp said on Friday that the 120,000 barrel per day (bpd) gasoline-producing fluidic catalytic cracking unit remains shut at its 344,600 bpd Beaumont, Texas refinery.The FCCU was shut in late July due to boiler malfunction and failed in an Aug. 13 restart attempt when a leak was found in piping, sources told Reuters. "We continue to work toward restoring normal operations," Exxon spokesman Todd Spitler said in a statement on Friday. "We ...
Brent oil extends slump to 2-year low; US crude bounces NEW YORK: Benchmark Brent crude dropped to a two-year low on Thursday, falling for a sixth straight session as increasing supply and signs of weakening demand countered worries that conflicts in the Middle East could curb output.Oil prices fell in tandem early in the day, but U.S. futures broke higher during morning trade in New York after triggering technical support levels. Its sharp rebound from a 16-month low lowered Brent's premium over U.S. crude to ...

 



 
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln