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Oil market sags on Saudi comments LONDON: Oil prices weakened Tuesday after a senior Saudi official signalled that the world's top crude exporter has no intention of cutting output despite a global supply glut, analysts said. US benchmark West Texas Intermediate for June delivery fell 18 cents to $56.81 a barrel compared with Wednesday's closing level.Brent North Sea crude for June declined 15 cents to stand at $64.68 a barrel in midday deals in London."Saudi Arabia is interested in maintaining its share in the market and interested in keeping its customers," said Prince Abdulaziz bin Salman, the deputy oil minister, according to Bloomberg News. "We will supply any demand for Saudi oil, as we are interested in the stability of the market."Saudi Arabia responds to demand in the market... we will provide oil to whoever asks for it."Singapore's United Overseas Bank said Prince Abdulaziz's comments were putting pressure on oil prices. Saudi Arabia, the top producer ...

Brent crude steadies above $65 as US rig count offsets strong dollar LONDON: Brent crude reversed early losses to steady above $65 on Monday as signs that US shale output may have started to decline offset the effects of a strong dollar. The number of active US rigs drilling for oil has fallen for a record 20 weeks in a row to its lowest since 2010, according to data from oil services company Baker Hughes, fuelling expectations of a drop in US production. "We believe that the ...
Russia's Gazprom Neft says no plans to ask for aid from rainy-day state fund ST PETERSBURG: Gazprom Neft, the oil arm of Russia's top natural gas producer Gazprom, has no plans to ask for money from the National Wealth Fund, the company's head said on Monday.Alexander Dyukov told reporters in Russia's second city of St. Petersburg that Gazprom Neft had not and did not plan to ask for support from the National Wealth Fund. Last month, Dyukov said the company may apply to receive money to develop some upstream ...
Oil prices head south once more LONDON: Oil prices turned lower on Monday after gains last week, but losses were limited as fighting in Yemen fuelled fears about a supply disruption in the Middle East, analysts said. US benchmark West Texas Intermediate fell 33 cents to $56.82 a barrel compared with Friday's close as light profit-taking set in.Brent North Sea crude declined 35 cents to stand at $64.93 a barrel nearing midday in London. Oil prices will "continue to receive support ...
Oil prices trade near 2015 highs on Yemen worries LONDON: Brent crude looked set to finish the week near 2015 highs on Friday as air strikes in Yemen stoked concerns over the security of Middle East oil shipments. A softer US dollar and strong economic indicators in Europe and Asia also lent support to oil prices, which have surged by nearly $10 a barrel this month amid rising tension in the Middle East and slowing US production growth.Brent crude for June delivery was up ...
Oil hits peak as Saudi resumes Yemen strikes LONDON: Global oil prices rebounded to a four-month peak Thursday as Saudi-led coalition warplanes launched new strikes in Yemen, stoking new supply concerns over the crude-rich Middle East.Brent North Sea crude for delivery in June delivery soared to $65.13 per barrel.The contract later stood at $64.86 in London late afternoon deals, up $2.13 from Wednesday's closing level.US benchmark West Texas Intermediate for June meanwhile jumped $1.78 to $57.95 a barrel"Crude oil prices rebounded to reach ...
Oil diverges on US energy report LONDON: Global oil prices diverged on Wednesday as traders digested the latest weekly crude inventories report from top consumer the United States.The market was also under pressure after a Saudi-led coalition declared an end to four weeks of air strikes in Yemen.In London late afternoon deals, Brent North Sea crude for delivery in June delivery rose 59 cents to $62.68 per barrel.On the downside, US benchmark West Texas Intermediate for June dipped 35 cents to ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln