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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 rally into a fifth straight day.Earlier in the day, the US Department of Energy reported US oil production fell by 20,000 barrels, or 0.2 percent, to 9.38 million barrels per day, in the week ending April 10.US crude inventories stand at the highest level for this time of year in at least the last 80 years, the DoE said, but the increase last week was smaller than expected.Analysts expressed caution at Wednesday's price surge."I think ...

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 ...
Oil edges up as Iran uncertainty, Yemen turmoil support NEW YORK: Crude futures rose on Monday, but closed well below intraday peaks, as concerns about Iran and turmoil in Yemen supported prices, while the global supply glut continued to cap gains.Also supportive to crude, US diesel futures rose on news that Colonial Pipeline shut on Sunday its distillate pipeline running from Texas to North Carolina after a breach. Brent May crude rose 6 cents to settle at $57.93 a barrel, having swung between $57.46 ...
Oil pares early gains as supply glut continues to weigh NEW YORK: Crude futures edged up but relinquished early gains and briefly turned lower in choppy trading on Monday as a global supply glut continues to cap gains and traders took profits after oil's earlier push higher.Prices rose initially on concerns about turmoil in Yemen, expectations for no quick return to the market of Iranian barrels if a deal is reached on Tehran's nuclear program and the slowdown in U.S. drilling.Weak export data from China ...
US crude oil stocks surge 11mn bbls, biggest rise since 2001 NEW YORK: US crude stocks surged nearly 11 million barrels last week, the biggest gain in 14 years, as imports jumped, while gasoline inventories unexpectedly increased, government data showed on Wednesday.Crude inventories rose 10.95 million barrels in the week to April 3 to 482.4 million, hitting record highs for the 13th consecutive week, according to data from the Energy Information Administration (EIA). Analysts had forecast an increase of 3.4 million barrels on average.Crude stocks at ...
Mexico, US firm sign $1 billion energy investment deal MEXICO CITY: Mexico's state oil company Pemex and US private equity firm First Reserve announced an agreement Tuesday to invest $1 billion in energy infrastructure and maritime transport projects.The deal comes on the heels of a $900 million deal last month between Pemex, First Reserve and BlackRock, the world's biggest money manager, in which the two US firms acquired a 45 percent stake in the construction of a natural gas pipeline.Mexico is implementing a sweeping ...
Oil rallies on US jobs data, bullish EIA monthly report NEW YORK: Oil futures rallied on Tuesday, erasing losses on strong jobs data, US government forecasts for lower domestic crude production growth and higher global demand for oil. US job openings surged to a 14-year high in February the Labor Department's monthly Job Openings and Labor Turnover Survey (JOLTS) said."That JOLTS report was certainly quite strong and strong employment equals strong gasoline demand," said John Kilduff, partner at Again Capital LLC in New York. Also ...

 



 
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln