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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 commitment to rein in excess oil production", Singapore's United Overseas Bank said in a commentary. The 12-nation Organization of the Petroleum Exporting Countries will hold one of its toughest and most significant meetings in recent years on Thursday, with members under pressure to address falling prices, which have sunk 30 percent since June.OPEC's poorer members, led by Venezuela and Ecuador, have called publicly for a cut in output, while Iran has also hinted at the ...

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 ...
Oil prices mixed ahead of key OPEC meeting SINGAPORE: Oil prices were mixed in Asia Monday ahead of 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 down six cents at $76.45 a barrel late-morning trade, and Brent crude for January added two cents to $80.38.The Organization of the Petroleum Exporting Countries will hold one of its toughest and most significant meetings in recent ...
Oil prices rise on fresh hopes of OPEC output trim SINGAPORE: Oil prices rose in Asia Friday on fresh hopes that the OPEC cartel will overcome internal resistance to trim output, while upbeat US economic data also provided support, analysts said.US benchmark West Texas Intermediate for January delivery climbed 43 cents to $76.28 on the contract's first day of trading. Brent crude for January gained 31 cents to $79.64 in afternoon trade.Prices recovered slightly after three days of losses owing to "changing expectations" on the ...
Oil prices rise on fresh hopes of OPEC output trim SINGAPORE: Oil prices rose in Asia Friday on fresh hopes that the OPEC cartel will overcome internal resistance to trim output, while upbeat US economic data also provided support, analysts said. US benchmark West Texas Intermediate for January delivery climbed 48 cents to $76.33 on the contract's first day of trading. Brent crude for January gained 32 cents to $79.65 in mid-morning trade. Prices recovered slightly after three days of losses owing to "changing expectations" ...

 



 
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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%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln