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Oil slide deepens as economic worries mount SEOUL/SINGAPORE: Oil fell more than $1 a barrel on Thursday, with Brent crude hitting a fresh four-year low at below $83, as growing concerns over the global economy stretched a four-month rout.Brent has lost more than 28 percent since June amid slow demand and abundant supply, with losses accelerating in recent weeks on signals that the Organization of the Petroleum Exporting Countries will not slash output to rescue prices.Economic concerns accelerated losses in oil prices which have been hit hard by a global supply glut.Brent crude for November delivery had dropped to $82.72 a barrel, the lowest since November 2010. The contract, which expires on Thursday, was down 53 cents at $83.25 a barrel by 0649 GMT.US crude fell 99 cents to $80.79 a barrel. It hit a low at $80.01 on Wednesday, the weakest since June 2012.The glut in the Atlantic Basin has helped fuel the collapse in oil ...

Oil prices tumble in Asia SINGAPORE: Oil prices resumed their downward spiral in Asian trade Thursday following another sell-off in equities as traders grow increasingly concerned about the global economic outlook, analysts said.US benchmark West Texas Intermediate (WTI) for November delivery fell $1.03 to a two-year low of $80.75 a barrel in afternoon trade. Brent crude for November retreated 87 cents to $82.91, levels last seen four years ago.Both contracts have lost more than a fifth of their value since ...
US oil to retest support at $79.95 SINGAPORE: US oil is expected to retest support at $79.95 per barrel, with a good chance of breaking below this level and falling more towards $77.60.Wave pattern indicates oil is riding on a powerful wave C, the third wave of a three-wave cycle that developed from the June 20 high of $107.73. Support is at the 86.4 percent Fibonacci projection level of this wave, temporarily holding it from traveling towards the 100 percent level at ...
Oil prices tumble in Asia SINGAPORE: Oil prices resumed their downward spiral in Asian trade Thursday following another massive sell-off in equities as traders grow increasingly concerned about the global economic outlook, analysts said.US benchmark West Texas Intermediate (WTI) for November delivery fell 90 cents to a two-year low of $80.88 a barrel in late-morning trade. Brent crude for November retreated 43 cents to $83.35, levels last seen four years ago.Both contracts have lost more than a fifth of their ...
Middle East crude Chinaoil buys 5 cargoes, al-Shaheen discount narrows SINGAPORE: The Middle East crude market stayed firm on Wednesday as Chinaoil snapped up another five cargoes, raising its purchases this month to 13.5 million barrels.The trading arm of PetroChina bought 84 Dubai partials which led to the delivery of five cargoes on the Platts window, traders said. Vitol and Total will deliver two Upper Zakum cargoes, they said. In addition, Chinaoil will receive three Oman, one from Shell and two from Unipec.Strong demand from ...
Exxon offers up to 6 million barrels of gasoil for 2015 term contract SINGAPORE: Exxon Mobil Corp has offered up to 6 million barrels of gasoil for loading in 2015 from its joint-venture refinery in Yanbu, Saudi Arabia, similar volumes to this year, industry sources said on Wednesday.The refiner offered 11 to 12 cargoes of either 300,000 barrels or 500,000 barrels each of 500 ppm sulphur gasoil for loading from the Saudi Aramco Mobil Refinery Co (SAMREF) refinery in Yanbu.The cargoes are for loading from January to December, ...
Oil prices see small rebound in Asia SINGAPORE: Oil staged a minor rebound on bargain-buying in Asian trade Wednesday following sharp falls that have seen prices hit multi-year lows owing to a supply glut and weak global demand, analysts said.US benchmark West Texas Intermediate (WTI) for November delivery climbed 20 cents to $82.04 a barrel in afternoon trade and Brent crude for November added 31 cents to $85.35.WTI is still languishing at two-year lows after plummeting 4.5 percent in New York on ...

 



 
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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 10, 2014
Reserves $13.401 bln