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US crude falls on worries about glut, Brent flat NEW YORK: US crude oil fell on Friday, on track for its fourth daily decline on continued concerns about ample supply at a time of weak global economic data and fragile demand.Analysts and traders also cited some liquidation of long positions ahead of Monday's expiration of the front-month light-crude contract.Brent crude hovered around $98 a barrel, as talk of possible OPEC production cuts kept the benchmark up from the 26-month lows reached at the start of the week. Renewed strength in the US dollar against major currencies also pressured oil. The dollar index hit its highest in more than four years, underpinned by an improved US job market The Euro also reached a 14-month low vs the US dollar. "What we're seeing is a situation where everybody is concerned about the demand side of the equation and oversupply.Let's face it, the market is very heavy right now," said Phil Flynn, ...

Exxon says US allows it to wind down drilling in Russian Arctic WASHINGTON: US oil major Exxon Mobil said on Friday the US Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.US sanctions on Russia over its aggression in the Ukraine seek to stop billions of dollars worth of cooperation between Western and Russian energy companies on oil drilling in Russia's Arctic, in Siberia and offshore.Copyright Reuters, 2014 ...
Oil edges lower on supply glut and strong dollar NEW YORK: Oil traded lower on Thursday, pressured by ample supply and concern over a weakening of demand growth in major consumer nations, as well as by a rise in the U.S. dollar.The decline in the global benchmark Brent price was limited by a drop in Libya's output and talk of OPEC production cuts. Brent hit a 26-month low on Monday after data showing a slowdown in China's factory output raised demand concerns.Meanwhile, the U.S. ...
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 ...
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 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln