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Asia Pacific crude outlook remains weak SINGAPORE: Demand for Asia-Pacific crude could find some support when trading for December-loading cargoes gains pace this week after Brent's premium to Dubai swaps narrowed, although the overall market outlook remained weak.While Brent crude oil futures fell below $88 a barrel on Monday to their lowest in almost four years, weaker refining margins in Asia are likely to put a lid on demand, traders said."It's a very tricky market. Margins are poor, but flat prices are low," one trader said. "People may be tempted to store crude."Some refiners could be tempted to pick up regional Brent-linked grades rather than Middle East grades, after Brent's premium to Dubai swaps narrowed on Monday for the first time in a week.Brent-Dubai Exchange of Futures for Swaps (EFS) narrowed 56 cents to $1.37 a barrel.A narrower Brent-Dubai spread could push more arbitrage cargoes from Africa to Asia. West African cargoes have been slow to ...

Oil prices down in Asian trade as weak demand weighs SINGAPORE: Oil prices fell in Asian trade Monday on growing concerns about demand as equities tumble on global growth woes and supplies increase.US benchmark West Texas Intermediate for November delivery fell $1.23 to $84.59 -- its weakest for two years -- while Brent North Sea crude lost $1.24 to a four-year low of $88.97."Prospects for global oil demand growth have weakened recently," British bank Barclays said in a market analysis.It said global oil consumption this ...
Oil falls on Kuwait, Saudi signals, but Chinese data lends support SINGAPORE/SEOUL: Global oil futures lost more than a dollar on Monday after Saudi Arabia and Kuwait signalled a willingness to bear with lower prices to defend market share, although better-than-expected trade data from China pared the losses. Contrary to market expectations, Kuwait said OPEC was unlikely to cut production to support prices, while Saudi Arabia has privately told oil market participants it could be comfortable with $80 for oil. "Judging by the latest comments from ...
Brent oil to revisit low of $87.74 SINGAPORE: Brent oil may revisit a low at $87.74 per barrel touched on Monday as the swift recovery of the price from this low may not sustain.The recovery followed a brief piercing below support at $88.49, the June 22, 2012 low. Many stop orders below this level could have been triggered and thus contribute to the recovery.The downtrend has not been reversed, which remains steady within a falling channel. The lower channel line points a ...
China Sept crude oil imports up 7.4pc on year BEIJING: China's crude imports rose a stronger-than-expected 7.4 percent in September from a year earlier, even as demand growth in the world's largest energy consumer remains subdued, suggesting the country may be boosting its reserves, analysts said. The International Energy Agency (IEA) last month revised down its forecast for China's oil demand growth in 2014 for the fourth time this year, estimating demand would rise just 2.4 percent, compared to 3.6 percent predicted in January. ...
Oil falls more than $1 on Kuwait, Saudi signals; China offsets SINGAPORE/SEOUL: Global oil futures lost more than a dollar on Monday after Saudi Arabia and Kuwait signalled ample supplies and their willingness to bear lower prices to defend market share, although better than expected trade data from China pared oil's losses. China's export and import growth unexpectedly trumped forecasts in September, while the world's largest energy consumer increased crude oil imports by 9.5 percent from a month ago, data showed on Monday. "That's very good ...
Oil prices down in Asian trade as weak demand weighs SINGAPORE: Oil prices fell in Asian trade Monday on growing concerns about demand as equities tumble on global growth woes and supplies increase.US benchmark West Texas Intermediate for November delivery fell 94 cents to $84.87 -- its weakest for two years -- while Brent North Sea crude lost 96 cents to a four-year low of $89.25."Prospects for global oil demand growth have weakened recently," British bank Barclays said in a market analysis.It said global oil ...

 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln