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Oil prices rise on fresh hopes of OPEC output trim SINGAPORE: Oil prices rose in Asia Friday on fresh hopes that the OPEC cartel will overcome internal resistance to trim output, while upbeat US economic data also provided support, analysts said.US benchmark West Texas Intermediate for January delivery climbed 43 cents to $76.28 on the contract's first day of trading. Brent crude for January gained 31 cents to $79.64 in afternoon trade.Prices recovered slightly after three days of losses owing to "changing expectations" on the outcome of an OPEC production meeting on November 27, Singapore's United Overseas Bank said in a commentary."Investors are now speculating that OPEC will be able to agree to a small cut or a stronger commitment to rein in excess oil production and keep to its 30-million barrels per day quota," the lender said. Despite a drop of more than 25 percent in prices since June, the Organization of the Petroleum Exporting Countries has been divided ...

Oil prices rise on fresh hopes of OPEC output trim SINGAPORE: Oil prices rose in Asia Friday on fresh hopes that the OPEC cartel will overcome internal resistance to trim output, while upbeat US economic data also provided support, analysts said. US benchmark West Texas Intermediate for January delivery climbed 48 cents to $76.33 on the contract's first day of trading. Brent crude for January gained 32 cents to $79.65 in mid-morning trade. Prices recovered slightly after three days of losses owing to "changing expectations" ...
Middle East Crude-Qatari condensate discounts widen SINGAPORE: January spot discounts for Qatari condensate hit multi-month lows in Asia on Thursday as demand from splitters declined on weak petrochemical margins.Operators of condensate splitters turned to buying cheaper naphtha, while the sharp fall in differentials for deodorised field condensate (DFC) and low sulphur condensate (LSC) likely attracted buying interest from refiners, traders said.Limited demand caused a supply build-up in December with 4-5 cargoes still available for last week, said a trader, adding that ...
Asia-Pacific Crude-Ruby stronger; Brent-Dubai gap at 3-1/2 month high SINGAPORE: January spot premiums for Vietnam's Ruby crude edged higher on stronger demand as a slump in the Asia-Pacific crude market appeared to have bottomed, traders said on Thursday.PV Oil, the marketing arm of PetroVietnam, sold two 300,000-barrel cargoes of Ruby loading Jan. 8-14 and Jan. 22-28 to Vitol and SK Energy at 50-70 cents a barrel above dated Brent. The deals could not be independently verified.The medium sweet grade was last month sold at ...
Iran to talk hold market share talks with Saudi at OPEC DUBAI: Iran's oil minister said on Thursday he will hold talks with top oil exporter Saudi Arabia about market share when OPEC members meet next week in Vienna as Tehran aims to boost its oil exports after the lifting of sanctions imposed over its nuclear programme."The countries in the south of the Persian Gulf are interested in keeping their market share and a decrease in market share will be difficult," Iran Oil Minister Bijan Zanganeh ...
Oil prices rise in Asian trade SINGAPORE: Oil prices edged higher in Asia Thursday but gains were capped as dealers expect Gulf members of the OPEC cartel to reject production cuts unless they are guaranteed market share, analysts said.US benchmark West Texas Intermediate for December rose 12 cents to $74.70 while Brent crude for January was up 17 cents at $78.27 in afternoon trade. "The market is keenly watching the outcome of the OPEC meeting next week," said Sanjeev Gupta, head ...
Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia Thursday as dealers anticipated Gulf members of the OPEC cartel to reject production cuts unless they are guaranteed market share, analysts said.US benchmark West Texas Intermediate for December fell 12 cents to $74.46 while Brent crude for January was down four cents at $78.06 in mid-morning trade. "The market is keenly watching the outcome of the OPEC meeting next week," said Sanjeev Gupta, head of the Asia-Pacific oil and ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln