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US oil prices shrug off jump in crude stocks NEW YORK: US oil prices rallied Wednesday despite a larger-than expected jump in the country's crude stockpiles last week, which hit a new record high.US benchmark West Texas Intermediate (WTI) for delivery in April climbed $1.01 to $51.53 a barrel on the New York Mercantile Exchange.But in London Brent North Sea crude for April slipped 47 cents to $60.55 a barrel.The US Department of Energy (DoE) said commercial crude inventories jumped by 10.3 million barrels in the week February 27. Analysts surveyed by Bloomberg News had expected a gain of 3.8 million barrels,Inventories have set new records for five straight weeks.However, inventories at the Cushing, Oklahoma hub, which serve as the reference point for WTI, rose by 500,000 barrels to 49.2 million barrels as expected.Frost & Sullivan analyst Carl Larry said that WTI's resilience in the face of another big build in crude shows that "it's really fair value." He ...

Oil down as US supply jumps; Saudi remarks keep prices off lows NEW YORK: Oil prices fell on Wednesday after U.S. crude stock builds were more than twice levels forecast, although prices held off recent lows after Saudi Arabia's oil minister said he expected prices to recover soon from the selloff of recent months.U.S. crude stocks jumped by 10.3 million barrels last week, the government said, versus a Reuters poll calling for a build of just 4 million barrels. While the Cushing, Oklahoma hub for U.S. crude ...
Mexico preparing for low oil prices; crude output fall LONDON: Falling oil production remains the most important risk to Mexico's economy this year and may force the government to tighten spending further into 2016, Finance Minister Luis Videgaray said on Tuesday.Speaking to journalists at the London Stock Exchange Videgaray said the risk was oil production could fall further, following January's output decline which sent production to the lowest since mid-1990s."We need to prepare for a scenario where the price of oil remains low and ...
Oil up as Netanyahu blasts Iran, Libya forces strike terminals NEW YORK: Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, while rival Libyan forces targeted oil terminals in the African nation.Higher prices imposed by Saudi Arabia on its crude buyers in Asia, the United States and northwest Europe was another positive development, traders said, although some had expected benchmark Brent and U.S. oil futures to rally even more on that.U.S. crude ...
Oil prices rise on Libya unrest NEW YORK: Oil prices turned higher Tuesday on unrest in exporter Libya and as the market expected another rise in US inventories.In New York trade, West Texas Intermediate (WTI) for April delivery rose 93 cents to $50.52 a barrel.European benchmark Brent North Sea crude for April leaped $1.48 to $61.02 a barrel in London."Geopolitical tension returns to the fore to support oil prices today, as Libya experiences fresh attacks on its oil fields by militants," ...
Oil up on Libya; US crude volatile before inventory data NEW YORK: Oil rebounded on Tuesday from the previous session's tumble, lifted by fighting that threatened Libya's oilfields, although U.S. crude struggled to hold to gains due to record crude inventories.Higher prices imposed by Saudi Arabia for its crude buyers in Asia, the U.S. and northwest Europe did not immediately boost benchmark Brent and U.S. oil futures, although some traders saw the move as supportive.Brent jumped almost 3 percent, trading firmly above the $60-a-barrel support ...
Oil up as Netanyahu blasts Iran in speech; Libyan forces fight NEW YORK: Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, and rival Libyan forces targeted oil terminals in the African nation.Higher prices imposed by Saudi Arabia for its crude buyers in Asia, the United States and northwest Europe were another positive development, traders said, although some had expected benchmark Brent and U.S. oil futures to rally even more on that.U.S. crude ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 20, 2015
Reserves $16.132 bln