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Asia-Pacific Crude-Feb Chim Sao premiums edge up SINGAPORE: Spot premiums for February-loading Chim Sao edged up in the Asia-Pacific crude market on Wednesday as better refining margins buoyed demand and high freight rates curbed the flow of alternative supply from the Atlantic Basin.PV Oil sold a 300,000-barrel cargo each of Chim Sao to Vitol and BP at about $3 a barrel above dated Brent, traders said, up from $2.50-$2.90 a barrel in the previous month. The cargoes will load on Feb. 11-15 and Feb. 22-26.Rates for very large crude carriers (VLCCs) on key Asian routes have soared to their highest since 2010, making it difficult for buyers to move African grades eastwards.Condensate may also gain some support from better crude premiums. North West Shelf (NWS) condensate may trade at $3-$3.50 a barrel below dated Brent, traders said, up from $3.40-$3.70 a barrel in the previous month.Still, premiums are capped by ample supply as Russia and Malaysia have ...

Middle East Crude-Premiums climb on low OSPs, firm demand SINGAPORE: The Middle East crude market stayed firm on Wednesday with most February spot grades sold at higher differentials than the previous month.Low official selling prices (OSPs) and robust demand for incremental crude in Asia supported differentials in February, pushing up premiums for Abu Dhabi Murban close to 60 cents a barrel.A Japanese refiner has bought a Das crude cargo at more than 70 cents a barrel, a trader said.Refiners across Asia are keeping crude ...
Oil prices sink further in Asian trade SINGAPORE: Oil suffered fresh losses in Asia Wednesday, sinking to new multi-year lows as dealers watch Russia's ruble crisis and await the latest US crude supply report, analysts said.US benchmark West Texas Intermediate for January delivery sank $1.16 in afternoon trade to $54.77 while Brent crude for February fell 71 cents to $59.30 on the contract's first day of trading.Brent for January finished down $1.20 at $59.86 in London, after slipping below the psychological $60 ...
Brent drops below $60 as OPEC, Russia keep output steady amid glut SINGAPORE: Brent futures fell more than 1 percent on Wednesday, down for a sixth straight session, with persistent worries of a supply glut keeping prices near a 5-1/2 year low under $60 a barrel.Oil prices skidded in recent weeks, with Brent down nearly $20 since the Organization of the Petroleum Exporting Countries (OPEC) decided to keep output steady in late November.Non-OPEC member Russia, one of the world's top producers, has also indicated that it does ...
India imports 38pc more Iranian oil in Jan-Nov NEW DELHI: India imported about 38 percent more oil from Iran in the eleven months to November as an easing of Western sanctions earlier in the year over Tehran's disputed nuclear activities helped boost shipments, trade sources said.Iran and six powers, the United States, China, Russia, Britain, France and Germany, will resume talks on Wednesday to resolve the 12-year dispute over Tehran's nuclear ambitions, after earlier failing to strike a long-term deal by a self-imposed ...
Oil prices sink further in Asian trade SINGAPORE: Oil suffered fresh losses in Asia Wednesday, sinking to new multi-year lows as dealers watch Russia's ruble crisis and await the latest US crude supply report, analysts said. US benchmark West Texas Intermediate for January delivery sank $1.16 in mid-morning trade to $54.77 while Brent crude for February fell 82 cents to $59.19 on the contract's first day of trading.Brent for January finished down $1.20 at $59.86 in London, after slipping below the psychological ...
Brent falls below $60 for first time since 2009 SINGAPORE: Brent crude oil prices fell over $1 per barrel and below $60 for the first time since July 2009 in early European trading on Tuesday as Chinese factory activity slowed and stumbling emerging market currencies dented demand expectations. Oil futures have almost halved since June amid rising output and cooling demand, but producer club OPEC has so far resisted calls to cut production to shore up prices. Data showing activity in China's factory sector ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln