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Oil turns lower on expectations of crude oil inventory rise NEW YORK: Crude oil futures fell on Tuesday as expectations that this week's reports will show U.S. crude inventories rose again countered supportive news of Libyan oilfields being shut.Prices faltered after being lifted by news the Sarir and the nearby oilfields in Libya were shut by a power cut, dealing another blow to exports from the embattled OPEC member nation.Greece's euro zone partners approved the Greek government's reform plans, also lending support to oil, but the prospect of another build in U.S. oil inventories highlighted an over-supplied market and countered the supportive news."The supply dynamic will be reinforced by the inventory reports and the data are simply too compelling to ignore, and it has consistently undermined the recent rallies," said John Kilduff, partner at Again Capital LLC in New York.Brent April crude fell 24 cents to settle at $58.66 a barrel, after reaching $60.30. U.S. April crude fell 17 cents ...

Oil lifted after Libya's largest field shuts NEW YORK: Crude oil futures rose on Tuesday on news that production had stopped at Libya's largest oilfield.The Sarir and the nearby Messla oilfields in Libya were shut because of a power cut, dealing another blow to exports from the embattled OPEC member nation.Also lending support to crude was news that Greece's euro zone partners had approved the government's reform plans, thereby securing an extension of their financial rescue operation.Brent April crude was up 52 ...
Oil prices slide on lofty supplies NEW YORK: Oil prices fell on Monday, extending last week's slide as US crude supplies linger at historic levels.The US benchmark West Texas Intermediate for April delivery shed $1.36 to $49.45 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for April delivery fell $1.32 to $58.90 a barrel in London trade."The supply dynamic is just too great," said John Kilduff, founding partner at hedge fund Again Capital.A note from Commerzbank rued that ...
Oil falls 2pc on glut worries; heating oil up on tight supply NEW YORK: Crude oil futures fell more than 2 percent on Monday as investors worried about oversupply and a strong dollar, but heating oil futures jumped 5 percent due to operational problems at major U.S. refineries.Crude was down for almost the whole trading session, rising briefly after the Financial Times quoted Nigerian Oil Minister Diezani Alison-Madueke as saying the country might call for an OPEC extraordinary meeting in the next six weeks or so if ...
Oil down on high supply worry, but quick ‘buying on dips’ NEW YORK: Oil prices were down on Monday on worries of oversupply and a strong dollar, but bets the market had hit bottom after a seven-month selloff limited the downside, traders said.The weekly decline in the number of U.S. rigs drilling for oil slowed last week as crude prices rebounded from January lows, raising worries about oil inventories that were already at record highs.The largest U.S. refinery strike in 35 years, involving workers at 12 ...
Oil down on high supply, heating oil spikes again NEW YORK: Crude oil futures were lower on Monday as investors worried about oversupply and a strong dollar, but heating oil jumped about 6 percent for a second straight day due operational problems at major U.S. refineries.Crude fell as the weekly decline in U.S. rigs drilling for oil slowed last week, raising worries that inventories, already at record highs, could swell further.The largest U.S. refinery strike in 35 years has also pressured crude prices.Heating oil ...
US refinery strike widens to include nation's largest refinery HOUSTON: The US refinery strike widened as workers at the nation's largest refinery walked off their jobs at 12 AM CST (0600 GMT) on Saturday, according to the United Steelworkers union (USW).Shortly after talks between union and oil company representatives ended on Friday night, the union notified Motiva Enterprises of a strike by its members at the company's 600,250 barrel per day (bpd) refinery in Port Arthur, Texas.The USW also gave notices on Friday of ...

 



 
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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