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Oil prices up in Asian trade SINGAPORE: Oil prices rebounded in Asian trade Wednesday on stronger US demand for heating oil but an impending showdown in the US Congress over the debt ceiling could limit gains, analysts said.   New York's main contract, light sweet crude for delivery in February was up 15 cents to $93.43 a barrel and Brent North Sea crude for February delivery climbed 22 cents to $110.52.   The gains were driven by data showing better-than-expected demand for distillates, including heating oil, in the United States, said Victor Shum managing director of energy consultancy IHS Purvin and Gertz in Singapore.   Shum said a report by the American Petroleum Institute showed inventories of distillates -- refined petroleum products -- fell unexpectedly, indicating strong demand.   "The market reacted bullishly to that," Shum told AFP.   He said however that the price increase could be limited by an impending showdown between Republican and Democrat lawmakers in the US Congress on raising the debt ...

Brent slips towards $111.50 as US debt weighs SINGAPORE: Brent crude slipped towards $111.50 a barrel on Tuesday after ending the previous session more than $1 higher, with the lack of an agreement over the US debt ceiling and a forecast increase in the country's oil inventory weighing on prices.   Federal Reserve Chairman Ben Bernanke on Monday warned the economy was still at risk from political gridlock over the deficit and urged lawmakers to lift the country's borrowing limit to avoid a potentially disastrous ...
Oil prices down in Asia SINGAPORE: Oil fell in Asia Tuesday after President Barack Obama warned Republicans over the debt ceiling, with traders bracing for more US partisan bickering in the coming weeks. New York's main contract, light sweet crude for delivery in February, shed 32 cents to $93.82 a barrel in the afternoon and Brent North Sea crude for February delivery dipped 23 cents to $111.65.   Crude markets slipped after most indices on Wall Street edged lower and Obama's warning shook ...
Oil prices down in Asia SINGAPORE: Oil fell in Asia Tuesday after President Barack Obama warned Republicans over the debt ceiling, with traders bracing for more US partisan bickering in the coming weeks.   New York's main contract, light sweet crude for delivery in February, shed 32 cents to $93.82 a barrel in the afternoon and Brent North Sea crude for February delivery dipped 23 cents to $111.65.   Crude markets slipped after most indices on Wall Street edged lower and Obama's warning shook ...
Saudi says oil supply cut not aimed at lifting prices DUBAI: Top oil exporter Saudi Arabia cut oil output in December because of lower seasonal demand, a senior Saudi oil ministry advisor told the state news agency on Monday, rejecting media reports suggesting the move was aimed at pushing up crude prices.   Saudi Arabia cut its crude oil production by around 700,000 barrels per day (bpd) over the last two months of 2012, with output falling to around 9 million bpd in December.   It topped that up ...
Brent rises to near $111 on supply worries, econ revival hopes SINGAPORE: Brent crude rose to near $111 a barrel on Monday as fears of disruption of supply from the Middle East resurfaced amid growing optimism for a revival in demand growth as the world's biggest economies show signs of steady recovery.   A plunge in oil exports from Iraq due to bad weather, a bomb attack on the convoy of its finance minister, escalating attacks in Syria and an exercise by Iran's navy in the strategic Strait ...
Oil up in Asia on completion of new US pipeline SINGAPORE: Oil was up in Asian trade on Monday as a completed US pipeline expansion project reduced oversupplied US inventory stocks, giving oil futures a positive nudge, analysts said.   New York's main contract, light sweet crude for delivery in February, rose 69 cents to $94.25 a barrel in the afternoon, and Brent North Sea crude for February delivery gained 43 cents to $111.07.   The Seaway Pipeline expansion completed on Friday means 400,000 barrels of crude oil can ...

 



 
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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