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Brent rises above $110 on hopes of revived demand growth SINGAPORE: Brent futures rose above $110 a barrel on Monday, defying the losses seen in most other risk assets on expectations of revived demand growth across industralised and emerging nations. The Group of 20 economies has embraced a goal of generating more than $2 trillion in additional output over five years, while creating tens of million of new jobs, signalling optimism that the worst of crisis-era austerity is behind. A drawdown in US oil stockpiles over the past few weeks due to a severe chill is also lending support. Brent crude had gained 19 cents to $110.04 a barrel by 0340 GMT, after settling higher for a second straight week. US oil rose 27 cents to $102.47, after climbing for the sixth week in its longest winning streak in more than a year. "The outlook is momentarily positive for energy prices," said Michael McCarthy, chief strategist at CMC Markets in ...

Oil rebounds after G20 vows to spur global growth SINGAPORE: Oil prices rebounded in Asian trade Monday as the world's biggest economies vowed to spur global growth by more than $2 trillion over five years.New York's main contract, West Texas Intermediate (WTI) for April delivery, gained 27 cents to $102.47 in afternoon trade, while Brent North Sea crude for April rose 19 cents to $110.04."The G20 pledging a two percent (percentage points) growth over a five-year period has provided some positive sentiments over the ...
Oil rebounds after G20 vows to spur global growth SINGAPORE: Oil prices rebounded in Asian trade Monday as the world's biggest economies vowed to spur global growth by more than $2 trillion over five years.New York's main contract West Texas Intermediate (WTI) for April gained 28 cents to $102.48 while Brent North Sea crude for April rose 17 cents to $110.02."The G20 pledging a two percent (percentage points) growth over a five-year period has provided some positive sentiments over the growth in the medium ...
Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asian trade Friday as dealers weighed concerns that the Chinese economy may be losing strength against upbeat US stockpiles figures, analysts said. US benchmark West Texas Intermediate (WTI) for April eased one cent to $102.74 in mid-morning trade, while Brent North Sea crude rose four cents to $110.34 for its April delivery.Weak Chinese manufacturing data released Thursday has heightened concerns about waning demand from the Asian economic powerhouse, the ...
Oil down in Asia on weaker China manufacturing sector SINGAPORE: Oil prices fell in Asian trade Thursday after a closely-watched index showed that China's key manufacturing sector contracted further in February to hit its lowest level in seven months.US benchmark West Texas Intermediate (WTI) for March dropped 17 cents to $103.14 in late morning trade, while Brent North Sea crude eased 56 cents to $109.91 for its April delivery.British banking giant HSBC's preliminary reading for its purchasing managers' index (PMI) for China, which tracks ...
Sinopec seeks private investment in marketing arm HONG KONG: Sinopec Corp, Asia's largest oil refiner, plans to restructure its retail and wholesale business and sell up to 30 percent of the unit as China's government promotes private investment in the country's oil industry. The state-run company's board passed a resolution on Wednesday to restructure the oil product marketing activities and "diversify the ownership by way of introducing social and private capital," it said in a filing with the Hong Kong stock exchange. ...
Brent holds above $110, WTI near 4-month top on winter boost SINGAPORE: Brent crude held above $110 a barrel on Wednesday, underpinned by geopolitical concerns in Africa and Venezuela, while U.S. oil traded near a four-month high amid strong winter demand.A frigid winter in North America has sapped heating oil supplies in the United States and buoyed prices. Weekly data due in the next two days should show a 1.8 million barrels drop in distillates stocks, according to a Reuters poll.U.S. crude touched an intraday high ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln