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Oil ebbs from 2015 high; OPEC reports jump in output NEW YORK: Global oil prices edged back from a 2015 high on Thursday as traders took some profits from a weeks-long rally and the Organization of the Petroleum Exporting Countries reported a sudden surge in March production.U.S. crude retraced some of the previous day's nearly 6 percent gains that followed government data showing the smallest weekly inventory build since the week ending Jan. 2, suggesting that months of oversupply may be starting to ease.But on Thursday, OPEC said in its monthly report that its own output surged by 810,000 barrels per day (bpd) in March, even as low prices start to weigh on U.S. production.Brent crude for June delivery fell 49 cents to $62.83 a barrel by 12:06 p.m. EDT (1606 GMT), after opening at $63.29, posting a front-month Brent peak price for the year.The June contract settled the previous session at a $3 premium to the May Brent contract, ...

Oil turns higher, rallies to 2015 high on Yemen conflict NEW YORK: Crude oil prices jumped to fresh 2015 peaks on Thursday, turning higher on news that a tribal group made up of former Al Qaeda militants took control of a major southern oil terminal in Yemen.The terminal is one of the major hubs for the Hadramout region exporting an average of 120,000 to 140,000 barrels per day (bpd) of crude from fields in the area.While a relatively minor oil producer, Yemen's escalating conflict raises ...
Oil sees sixth day of price gains NEW YORK: Oil prices marked gains for their sixth day running Thursday amid signs that US production, a key driver of the global supply glut, may be on the cusp of easing. West Texas Intermediate for May delivery, the US benchmark, advanced 32 cents to close at $56.71 a barrel on the New York Stock Exchange, a fresh high since December. Global benchmark Brent North Sea crude for June delivery rose 66 cents to settle ...
Oil surges after lower than expected US inventory rise NEW YORK: Oil prices rallied and US crude jumped nearly 6 percent to a 2015 peak on Wednesday after government data showed crude oil inventories in the United States rose less than expected last week. Though hitting a record level for a 14th consecutive week, US crude inventories rose only 1.3 million barrels to 483.69 million, the smallest build since the week ending Jan. 2, the Energy Information Administration said on Wednesday. That build was ...
Heavy grades tighten to match multi-month highs CALGARY: Canadian heavy crude differentials tightened on Wednesday as the April trading cycle started to wind down, with prices buoyed by strong refinery demand and good access to markets in the United States. Canada exported 3.2 million barrels per day of crude to the United States in the week ended April 10, according to the US Energy Information Administration. Western Canada Select heavy blend for May delivery last traded at $11.30 per barrel below the ...
Oil climbs for 5th day as US output edges lower NEW YORK: US oil prices shot up to a 2015 peak Wednesday after a slight dip in US oil production sparked talk that the glutted petroleum market could be turning.US benchmark West Texas Intermediate for May delivery jumped $3.10 to $56.39 a barrel on the New York Mercantile Exchange, the highest closing price since December 23.European benchmark Brent oil for delivery in May rose $1.89 to $60.32 a barrel in London.The gains extended a market ...
Oil rises on US output dips, Middle East tensions NEW YORK: Crude oil futures rose on Tuesday on signs of falling US oil production, weakness in the dollar and tensions in the Middle East, particularly Yemen. North Dakota's February oil production fell 15,000 barrels per day (bpd) versus January, monthly data showed on Tuesday, though the number of producing wells hit a record high. "Today's (US) led crude spike was spurred primarily by supportive supply side headlines suggesting a quicker production response to rig ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln