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China crude imports seen at record as it fills strategic reserves BEIJING: Tumbling world oil prices sparked a buying spree by China that led to record crude imports in December, according to Reuters estimates that suggest the top energy consumer doubled the oil put aside for strategic reserves in 2014 compared with 2013.The figures indicate that thanks to the doubling of surplus oil in its system last year, China is much further along in filling up its strategic oil reserves than previously thought.Yet analysts played down suggestions that Chinese buying could prop up global oil markets, where prices have dropped by more than half since the middle of last year.Economic growth is slowing, and Daniel Ang, an analyst at Phillip Futures in Singapore, reckons China could be close to filling its currently available space for its strategic petroleum reserve (SPR)."As to China stocking up on their SPR, we believe that it was definitely a surprise. Judging from their economic figures, we ...

Oil halts 4-day drop, US stockpile data supports SINGAPORE: Brent crude extended gains on Thursday to hold above $51 a barrel, after an unexpected fall in U.S. crude stocks snapped a 4-session decline the previous day.Data showing the U.S. economy remained resilient amid slowing global growth helped bolster oil, which was also supported by Chinese crude imports likely hitting a record high in December.Brent crude marked an intraday high of $51.91 a barrel and was at $51.60 by 0253 GMT, up 45 cents. ...
Oil extends gains in Asia SINGAPORE: Oil extended gains in Asia Thursday following a drop in US crude stockpiles indicating stronger demand in the world's biggest economy, but analysts said prices remain under pressure due to a global supply glut.US benchmark West Texas Intermediate for February delivery was up 51 cents at $49.16 a barrel in late-morning trade and Brent crude for February gained 41 cents to $51.56. Brent briefly slipped below $50 for the first time since 2009 on ...
Asia-Pacific Crude-Arbitrage could weigh SINGAPORE: The Asia-Pacific crude market could come under renewed pressure as more arbitrage cargoes are headed to the region.Differentials for some regional grades have been supported over the last month by high freight rates, making it less profitable to bring crude from other regions to Asia.However, some Asian refiners have begun to pick up more West African cargoes after a large overhang pushed differentials to multi-year lows.One or two VLCCs may also load North Sea ...
SINGAPORE: Oil prices will continue to drop as high production meets weak demand and a strong U.S. dollar pressures crude, and markets will only pick up once major manufacturing economies particularly in Asia feel the benefit of cheaper energy.Oil prices have halved since last June to near 6-year lows as economic growth stutters, and analysts say that a building supply glut means prices are set to fall further before any rebound.On the supply side, downward ...
Oil prices hit fresh lows, no end in sight to slump SINGAPORE: Oil prices hit fresh five-and-a-half-year lows on Wednesday as global business growth slowed to its weakest level in a year and analysts said a building supply glut meant that more falls were likely before a rebound. The pace of global business growth eased to its weakest rate in over a year at the end of 2014 as rates of expansion slowed in both the manufacturing and service industries, according to JPMorgan's Global All-Industry Output ...
Thailand's 2015 energy demand seen up 2.9pc on year BANGKOK: Thailand's energy demand is expected to rise 2.9 percent in 2015, in line with the country's economic growth, up from a rise of 2.2 percent a year earlier, the energy ministry said on Wednesday.Thailand's 2015 natural gas demand is forecast to rise 3.2 percent, mostly to supply power producers for electricity generation, the ministry said in a statement.Electricity production is expected to increase 4.3 percent in 2015, it said.Copyright Reuters, 2014 ...

 



 
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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