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Brent falls below $114 as sluggish economy outweighs supply risk  SINGAPORE: Brent crude slipped below $114 on Wednesday after a 2 percent jump the previous day, with a cloudy economic outlook offsetting fears about disruptions to Middle East oil supply as a conflict between Turkey and Syria escalated.   A stronger US dollar, as investors shied away from risk on concerns about a slowdown in global growth, also weighed on oil prices, making the commodity more costly for holders of other currencies.   Brent crude had slipped 67 cents to $113.83 a barrel by 0245 GMT, after a 2.4 percent rise on Tuesday to its highest since Sept. 18.   US crude fell 62 cents to $91.77 a barrel. The dollar index rose 0.23 percent.   "There's definitely a little bit of profit-taking after such a strong session," said Ben Le Brun, a market analyst at OptionsXpress in Sydney.   "The rising tension between Turkey and Syria is underpinning oil prices."   The two neighbours have repeatedly exchanged fire since last week ...

Indian Oil sells Dahej cargo at $40/T premium  SINGAPORE: Indian Oil Corp (IOC) has sold a naphtha cargo for Oct. 25-27 lifting from Dahej port to Glencore at premiums of about $40 a tonne to its own price formula on a free-on-board (FOB) basis, reflecting a firm naphtha market, traders said on Wednesday.   The 35,000-tonne cargo premium was largely unchanged from a cargo IOC had previously sold to Socar for early October loading from the same port.   Despite India having restored its overall exports for ...
India NEW DELHI: India's oil output in 2012/13 is expected to rise 8 percent to 41.12 million tonnes from the previous year, Oil Minister S. Jaipal Reddy said on Tuesday.   The minister also said the country's natural gas output in the current year to March 31, 2013 is likely to be 43 billion cubic metres, down 9 percent from a year ago.   Reddy said the fall in gas output would be "mainly due to lower production from the ...
China lifts oil, gas resources estimates  BEIJING: China's geological oil resources were put at 88.1 billion tonnes (643 billion barrels) in 2010, up 15 percent from a survey three years earlier, the China Petrochemical News reported on Tuesday, citing a survey by the Ministry of Land and Resources.   China, which is the world's second-largest oil consumer, rarely publishes data on its oil resources.   The survey showed recoverable oil resources were 23.3 billion tonnes, up from 21.2 billion tonnes in 2007.   Recoverable natural gas resources ...
Brent rises towards $113 on Syria-Turkey tensions  SINGAPORE: Brent crude futures rose towards $113 a barrel on Tuesday after two days of losses, with supply fears due to escalating tensions in the Middle East prevailing over a sluggish outlook for global demand.    Turkish President Abdullah Gul said on Monday that the worst case scenarios between his country and Syria are now playing out, fuelling concerns that the 18-month old conflict in Syria may spread to other countries in the region.    "Right now the market ...
Oil to prod growth in MENA, importers to slow: IMF  DUBAI: High oil prices will support economic expansion in the Middle East and North Africa in 2012-2013 as importers grapple with fallout from the Arab Spring uprisings and external pressure, the IMF said on Monday.   The MENA region covered by the International Monetary Fund, which stretches from Iran to Mauritania, is expected to grow at 5.3 percent in 2012, compared with 3.3 percent last year, the IMF said in its annual World Economic Outlook.   Oil exporters will ...
Brent rises towards $113 on Syria Turkey tensions  SINGAPORE: Brent crude futures rose towards $113 a barrel on Tuesday after two days of losses, with supply fears due to escalating tensions in the Middle East prevailing over a sluggish outlook for global demand.   Turkish President Abdullah Gul said on Monday that the worst case scenarios between his country and Syria are now playing out, fuelling concerns that the 18-month old conflict in Syria may spread to other countries in the region.   "Right now the market ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln