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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 higher early after OPEC Secretary General Abdallah El-Badri told reporters he expected the group to lower its oil output target to 29.5 million barrels per day (bpd) from 30 million bpd when it meets next in late November.Crude futures got another jolt higher when Libya's state-run National Oil Corp said the El Sharara 340,000-bpd oil field has "slightly" reduced production after rockets hit an area near the Zawiya refinery.Fighting between rival armed groups resulted in ...

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 ...
Oil prices fall on OPEC forecast, US supplies NEW YORK: World oil prices dropped Wednesday after OPEC trimmed its oil demand growth forecast and a US supply report showed surprisingly high inventories.US benchmark West Texas Intermediate for October delivery declined $1.08 to $91.67 a barrel on the New York Mercantile Exchange, its lowest closing price since January.European benchmark Brent oil for October delivery fell $1.12 to $98.04 a barrel on the Intercontinental Exchange in London. The Organization for Petroleum Exporting Countries (OPEC) revised ...
Pony Express oil pipeline service delayed to Nov. 1: Tallgrass NEW YORK: The Pony Express pipeline carrying 230,000 barrels per day of crude oil from Wyoming to Oklahoma is likely to begin service for existing customers in early November, a month later than expected, operator Tallgrass Energy Partners LP said in a notice to shippers.The notice issued late on Tuesday did not say why the commencement date for so-called committed shippers had slipped, but earlier this week market sources said the line might have experienced ...

 



 
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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 20, 2014
Reserves $13.436 bln