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Oil prices extend losses ahead of OPEC meeting SINGAPORE: Oil prices extended losses in Asia Wednesday as speculation swirls that the OPEC oil cartel will maintain output at this week's closely watched meeting despite a global supply glut. US benchmark West Texas Intermediate (WTI) for January delivery fell 24 cents to $73.85 while Brent crude for January eased 17 cents to $78.16 in mid-morning trade. WTI dived $1.69 Tuesday while Brent closed down $1.35."At the moment, the outcome of the OPEC meeting on Thursday is very much trumping all other factors," Daniel Ang, investment analyst at Phillip Futures in Singapore, told AFP. "Prices have come under pressure after the meeting between some OPEC members and Russia saw no real concrete measures announced regarding production cuts," Ang said. Members of the Organization of Petroleum Exporting Countries and non-member producers including Russia held talks Tuesday ahead of the cartel's key output meeting on Thursday. After the meeting, Venezuelan Foreign Minister ...

Brent crude drops to $79.20 as expectation of big OPEC cut wanes SINGAPORE: Brent crude oil prices fell towards $79.20 on Tuesday as traders lowered their expectation of a significant output cut by OPEC, but the market received some support from an uptick in German GDP and hopes of strengthening US data later in the day. Oil ministers from the Organization of Petroleum Exporting Countries (OPEC) meet on Thursday in Vienna and some are imploring the group to cut 1 million barrels per day or more to ...
Oil prices mixed as hopes dim for OPEC output cut SINGAPORE: Oil prices were mixed in Asia Tuesday as dealers bet that the OPEC cartel is unlikely to agree on any cuts at a key output meeting this week, analysts said.US benchmark West Texas Intermediate for January delivery rose nine cents at $75.87 while Brent crude for January fell eight cents to $79.60 in afternoon trade.Oil investors are "speculating that OPEC will not be able to agree to any cut or even commitment to rein ...
Oil prices lower as hopes dim for OPEC output cut SINGAPORE: Oil prices edged lower in Asia Tuesday as dealers bet that the OPEC cartel is unlikely to agree on any cuts at a key output meeting this week, analysts said. US benchmark West Texas Intermediate for January delivery was down three cents at $75.75 while Brent crude for January fell nine cents to $79.59 in mid-morning trade. Oil investors are "speculating that OPEC will not be able to agree to any cut or even ...
Asia-Pacific Crude: Steady; winter demand may support SINGAPORE: The Asia-Pacific crude market held steady on Monday with both buyers and sellers reluctant to show their hands amid expectations winter demand may boost differentials for January-cargoes. Malaysian grades were slow to move, traders said, with Petronas yet to issue a tender for its Labuan grade. "It's a buyers' market. They're not in a hurry to move," one trader said. Woodside sold a cargo of Vincent crude loading in January, a trader said, although ...
China corruption watchdog launches inspections, eyes Sinopec BEIJING: China's corruption watchdog has launched a series of inspections into state-owned enterprises and government bodies including China Petrochemical Corp (Sinopec Group), Asia's largest oil refiner, state media said on Monday. The inspectors, part of China's Central Commission for Discipline Inspection (CCDI), will focus on senior figures within Sinopec who may be promoted to leadership roles. The official Xinhua news agency said the inspection would be complete within one month. Sinopec Group is the parent ...
Oil prices rise ahead of key OPEC meeting SINGAPORE: Oil prices rose in Asia Monday before a crucial meeting of the OPEC cartel later in the week that will discuss whether to trim output, analysts said.US benchmark West Texas Intermediate for January delivery was up 31 cents to $76.82 a barrel in afternoon trade, and Brent crude for January added 37 cents to $80.73.The Organization of the Petroleum Exporting Countries will hold one of its toughest and most significant meetings in recent years ...

 



 
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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