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Oil prices higher in Asian trade SINGAPORE: Oil prices rose in Asia Friday but gains were capped by downbeat Chinese manufacturing data and the low likelihood of supply disruptions in conflict-hit Iraq, Ukraine and Libya, analysts said.US benchmark West Texas Intermediate for October delivery added six cents to $94.02 while Brent crude for October gained five cents to $102.68 in afternoon trade. Trading is "likely weighed by weaker-than-expected Chinese manufacturing data released yesterday," David Lennox, resource analyst at Fat Prophets in Sydney, told AFP.The HSBC preliminary purchasing managers index for China's manufacturing sector slipped to 50.3 in August, down from a final reading of 51.7 in July. The figure, released Thursday, was the lowest for three months, the British banking giant said in a statement. The indicator is a closely watched gauge of the health of the Asian economic powerhouse, with a reading above 50 indicating the sector is expanding."Prices are perhaps also under pressure as ...

Oil prices down in Asian trade SINGAPORE: Oil prices edged lower in Asia Friday as dealers digested downbeat Chinese manufacturing data and tracked the ebbing likelihood of supply disruptions in conflict-hit Iraq, Ukraine and Libya, analysts said. US benchmark West Texas Intermediate for October delivery dipped 11 cents to $93.85 while Brent crude for October was down 10 cents to $102.53 in mid-morning trade. "Oil prices have moved lower in Asia-Pacific trading likely weighed by weaker-than-expected Chinese manufacturing data released yesterday," ...
Middle East crude Qatar Marine discount slips to 5-month low  SINGAPORE: The spot differential for Qatar Marine hit a five-month low on Thursday as ample supply and weak demand in Asia continued to weigh on the Middle East crude market.Mitsui has sold an October-loading Qatar Marine cargo to Shell at 80 cents a barrel below its OSP, traders said. The grade was last traded at this level for May-loading barrels, according to Reuters data.Upper Zakum may have been sold at 70 cents a barrel below ...
Asia Pacific crude weaker; less West African cargoes seen SINGAPORE: Differentials in the Asia-Pacific crude market continued to slide on Thursday amid ample supply and weak demand, but may find some support from less attractive economics for bringing West African cargoes to the region, traders said.A large inflow of arbitrage cargoes, particularly from West Africa, has added to a glut of crude in Asia. But with freight rates on the West Africa-to-China route rising, the trade now looks less economical."We're not so sure the ...
ADNOC offers condensate ahead of refinery maintenance SINGAPORE: Abu Dhabi National Oil Co (ADNOC) has offered condensate for October-loading in a rare move ahead of a planned shut-down of refining units for scheduled maintenance, trade sources said on Thursday.The two condensate splitters, operated by Abu Dhabi Oil Refining Company (Takreer), are scheduled to shut down between October and January, the sources said. The units at the Ruwais refinery have a capacity of 140,000 barrels per day (bpd) each and they process condensate ...
Oil prices down as supply fears fade` SINGAPORE: Oil prices edged lower in Asia Thursday on fading fears that conflicts in crude producers Libya and Iraq could result in a major supply disruption, analysts said. US benchmark West Texas Intermediate for October delivery was down 27 cents at $93.18 while Brent for October eased 26 cents to $102.02 in afternoon trade."Benchmark prices weakened further as there has been no disruptions in crude supply despite ongoing crises in Iraq and Libya," said Sanjeev ...
Brent drops below $102, near 14-month low, on China concerns SINGAPORE: Brent slipped below $102 a barrel on Thursday, near a 14-month low hit earlier this week, as concerns over excess oil supply and slowing demand weighed on prices. A survey on China's factory activity showed that growth in the sector slowed to a three-month low in August, adding to concerns about softness in the Chinese economy that could depress oil use in the world's second-largest oil consumer."This is a figure which indicates that growth ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln