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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 gas practice at business consultancy EY.Analysts say the stance of Gulf nations within the Organization of the Petroleum Exporting Countries (OPEC) will be crucial for a positive decision on reducing supplies to boost prices, which have fallen by a third of their value since June.Saudi Arabia, Qatar, the United Arab Emirates and Kuwait together pump a total 16.2 million barrels per day, or 52 percent of the 12-member cartel's total output.They account for two thirds ...

Asia-Pacific Crude-China demand supports Pyrenees SINGAPORE: January spot premium for heavy sweet Pyrenees rose in the Asia-Pacific crude market on Wednesday from the previous month on firm demand from China.Apache sold a cargo to ChemChina at about $3 a barrel above dated Brent, traders said. This was against a premium of $2 in the previous month, one of the traders said. The deal could not be independently verified.Traders await more tender results to gauge demand for January-loading cargoes.SK Energy and ...
Oil prices mixed as hopes dim for OPEC output cut SINGAPORE: Oil prices were mixed in Asia Wednesday as dealers predicted that leading producer Saudi Arabia will resist pressure from other OPEC members to cut output in order to prop up falling prices. US benchmark West Texas Intermediate for December delivery fell 44 cents to $74.17 while Brent crude for January rose eight cents to $78.55 in afternoon trade."The focus at the moment is on Saudi Arabia and whether it will succumb to pressure from ...
Oil prices mixed as hopes dim for OPEC output cut SINGAPORE: Oil prices were mixed in Asia Wednesday as dealers predicted that leading producer Saudi Arabia will resist pressure from other OPEC members to cut output in a bid to prop up falling prices. US benchmark West Texas Intermediate for December delivery fell 20 cents to $74.41 while Brent crude for January rose 10 cents to $78.57 in late-morning trade."The focus at the moment is on Saudi Arabia and whether it will succumb to pressure ...
US oil may revisit low of $73.25 SINGAPORE: US oil may revisit its Nov. 14 low of $73.25 per barrel, as it has broken support at $74.94.The support was provided by the 14.6 percent Fibonacci retracement on a five-wave cycle that developed from the Oct. 16 high of $84.83 and ended at $73.25. The drop from the Nov. 18 high of $76.36 indicates resumption of a long-term downtrend.A climb above $74.94, now a resistance, will however signal an extension of the preceding ...
Brent oil to revisit low of $76.76 SINGAPORE: Brent oil is expected to revisit its Nov. 14 low of $76.76 per barrel, as it could have completed a rebound from this level.A Fibonacci retracement analysis on the fall from the Oct. 29 high of $87.94 to $76.76 reveals oil failed again to break resistance at $79.40, the 23.6 percent level.The drop from the Nov. 18 high of $79.95 signals a continuation of the preceding downtrend.A break above $79.40 will open the way ...
Middle East Crude-January Murban slips into discount; Das at parity  SINGAPORE: Light sour Murban crude slipped into a discount, while Das held at parity in the Middle East crude market on Tuesday as demand for January loading cargoes remained weak in Asia.Japanese refiner Fuji Oil bought a cargo at a discount to its official selling price (OSP), traders said. The discount was at 10-15 cents a barrel, one of them said. The deal could not be independently verified.On the Platts window, BP sold a Das ...

 



 
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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