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Oil steady above $113 as Iraq fears offset Iran-West relations NEW YORK: Brent oil held steady above $113 per barrel on Tuesday and US crude weakened slightly as fears over oil supply disruptions from Iraq offset thawing relations between Iran and the West.Scores of Iraqis were killed on Tuesday during a battle for the provincial capital of Baquba as an uprising by Sunni insurgents continued to threaten the disintegration of Iraq.The fighting also shut the country's main oil refinery, starving parts of the country of fuel. Islamic militants marching south towards Baghdad government seized towns in the north of the country in the past week. However, Iraq's oil refineries in the south, which process most of the country's 3.3 million barrels per day of oil exports, have been unaffected so far.Brent prices rose around 4 percent last week, the most since July last year, but the rally stalled after the Iraqi government tightened security around oil infrastructure."The market is going ...

Crude oil rises as Iraq violence fuels supply worry NEW YORK: Crude oil futures pushed higher in choppy trading on Monday as advances by insurgents in Iraq fueled concerns over a potential disruption to oil exports from the second-largest OPEC producer.Both Brent and U.S. crude added to last week's gains of more than 4 percent, the most since July and December, respectively, sparked by the eruption of violence in Iraq.The rally lost some steam on Monday as the market waited to see if crude ...
Oil prices hit new nine-month peaks on Iraq violence NEW YORK: Global oil prices surged to fresh nine-month highs on Friday as traders eyed escalating violence in Iraq, OPEC's second-biggest crude exporter.US benchmark West Texas Intermediate (WTI) for July rose 38 cents to close at $106.91 a barrel, its highest level since September 18, 2013.Brent crude for July delivery climbed 39 cents to $113.41 a barrel in London trade, its highest close since September 9.Prices had rallied sharply on Thursday, more than $2 for ...
Oil prices rise on US inventories, Iraq turmoil NEW YORK: Oil prices finished somewhat higher Wednesday following an unexpectedly large decline in US crude supplies and worsening turmoil in Iraq. US benchmark West Texas Intermediate for July delivery edged higher by five cents to $104.40 a barrel on the New York Mercantile Exchange.In London, European benchmark Brent oil for July delivery advanced 43 cents to $109.95 a barrel on the Intercontinental Exchange.The gains followed a weekly oil-inventory report by the US Department of ...
Brent crude up $110 on supply disruption fears NEW YORK: Brent oil futures climbed toward $110 a barrel on Wednesday as violence in Iraq prompted worries about the supply outlook, while US crude struggled to make gains near key levels of resistance.Militants from an al Qaeda splinter group who seized Iraq's second-biggest city, Mosul, earlier this week have advanced into the oil refinery town of Baiji, raising concerns about oil supply interruptions should other regions in the country fall.US crude gained slight support ...
Venezuela says consensus to keep OPEC oil output target VIENNA: OPEC oil ministers have a "consensus" to keep their output ceiling unchanged, Venezuelan Energy Minister Rafael Ramirez said on Wednesday ahead of the cartel's production meeting."There is consensus to maintain (the) production" ceiling at 30 million barrels per day, Ramirez told reporters ahead of the cartel's output gathering."The prices are good, the market is stable," Ramirez said.OPEC Secretary-General Abdullah El-Badri added: "I think there will be another rollover. We will discuss it at the ...
US oil production, 2015 forecast reaches new records NEW YORK: Total US crude oil production in May reached the highest levels in 26 years, hitting an average of 8.4 million barrels per day (bpd), the U.S. Energy Information Administration said on Tuesday.The organization also said its 2015 forecast of 9.27 million bpd represents the highest annual average level of oil production since 1972, according to EIA's monthly short term energy outlook.Copyright Reuters, 2014 ...

 



 
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 02, 2014
Reserves $13.581 bln