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Oil prices up ahead of Fed outcome, supply report SINGAPORE: Oil prices rose in Asia Wednesday as dealers await the outcome of a US Federal Reserve meeting and the latest US supply report. US benchmark West Texas Intermediate for December delivery rose 26 cents to $81.68 while Brent crude for December was up 20 cents at $86.23 in mid-morning trade."The focus is clearly on the Fed," Singapore's United Overseas Bank said in a commentary. A statement on the two-day Fed meeting's outcome will be released at 1800 GMT on Wednesday.The US central bank is expected to announce an end to its vast asset-buying programme, which was credited with propping up the world's biggest economy after the 2008 financial crisis. Traders, having already discounted an end to the "quantitative easing" programme, are more interested in what bank policy makers say about the future direction of US interest rates. "We expect the Fed to maintain its forward guidance on policy interest ...

Middle East crude weak demand in Asia weighs SINGAPORE: The Middle East crude market remained depressed by excess supply and weak demand in Asia, with only the grades sold on the Platts window supported by Chinaoil, the trading arm of PetroChina.Shell has again offered Murban at a discount of 40 cents a barrel to its official selling price (OSP) on the Platts window, but there were no buyers.Unipec and Gunvor will deliver a cargo each of Oman and Upper Zakum respectively to Chinaoil ...
Asia-Pacific crude under pressure; ESPO in focus SINGAPORE: Over supply continued to weigh on the Asia-Pacific crude market on Tuesday although signs of improving middle distillate margins could support differentials for Russia's ESPO grade, traders said.Profits from processing a barrel of crude continued to slip, with complex refining margins in the Singapore hub averaging about $5 a barrel over the last two weeks, down from $6.35 a barrel last month.Still, a pick-up in margins for jet fuel and an anticipated increase in ...
Middle East Crude-Weak demand in Asia weighs SINGAPORE: The Middle East crude market remained depressed by excess supply and weak demand in Asia, with only the grades sold on the Platts window supported by Chinaoil, the trading arm of PetroChina.Shell has again offered Murban at a discount of 40 cents a barrel to its official selling price (OSP) on the Platts window, but there were no buyers.Unipec and Gunvor will deliver a cargo each of Oman and Upper Zakum respectively to Chinaoil ...
Sinopec firm starts laying pipelines for Iraq's Maysan oilfield BEIJING: An engineering and construction unit under China's Sinopec Group has started building pipelines for Iraq's Maysan project that will help raise the oilfield's production to 460,000 barrels per day (bpd) by 2016, an industry website reported on Tuesday.Iraq had set a production capacity target of 12 million bpd by 2020, which would rival that of top oil exporter Saudi Arabia, after it signed service contracts in 2009-2010 to develop its southern oilfields. China is ...
Brent oil's target of $82.87 intact SINGAPORE: A bearish target at $82.87 per barrel remains intact for Brent oil as indicated by its wave pattern and a Fibonacci projection analysis.Oil is riding on a wave 5, the fifth wave of a five-wave cycle that developed from the Sept. 17 high of $99.61. This cycle makes a part of a bigger wave C that developed from the June 19 high of $115.71.The wave C has been disrupted by support at $82.87, the ...
Oil extends losses over weak price outlook SINGAPORE: Oil moved lower in Asian trade Tuesday after Goldman Sachs slashed its price forecasts for the next two years owing to a global supply glut. US benchmark West Texas Intermediate (WTI) for December delivery fell 46 cents to $80.54 while Brent crude for December eased 59 cents to $85.24 in mid-morning trade. "We continue to see oil prices drift lower, and with nothing significant happening, the Goldman report is still on investors' minds," David ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln