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Oil slips below $86 on global oversupply LONDON: Brent crude slipped below $86 a barrel on Monday, resuming a downward move that took the global oil benchmark to near a four-year low last week as supply overwhelmed weak demand in several key markets.Abundant global oil supplies, particularly of very high quality, light oil, coupled with a gloomy economic outlook from Europe to China pushed Brent last week below $83, to its lowest since 2010. Oil prices are down more than 25 percent since June.Energy economists have slashed their forecasts of world oil demand growth for next year as the global economic outlook weakens.And it is not clear if the Organization of the Petroleum Exporting Countries will decide to cut output to support prices when they meet for a biannual gathering on Nov. 27.Saudi Arabia, Kuwait and Iran have all indicated reluctance to change supply policy.Brent was down 25 cents at $85.91 by 1140 GMT after rising 2 ...

JSW curbs coal production, investment hit by lower coal prices WARSAW: Poland's JSW, the largest coking coal miner in the European Union, cut its 2014 production target by 9 to 12 percent and slashed investment in an effort to regain profitability after steep falls in coal prices.State-controlled JSW, which swung to a net loss of over $100 million in the first half of the year, said in a statement late on Friday it planned to produce 13.8 million to 14.0 million tonnes of coal in ...
Oil rises above $86 as investors say market oversold LONDON: Brent crude oil rose above $86 a barrel on Friday, bouncing from near four-year lows as investors bought back into a market they said was oversold, and as fighting in Iraq increased political risk.Oil has lost more than a fifth of its value since June on heavy oversupply, signs of weak demand growth and indications that key oil producers, particularly Saudi Arabia, have a limited appetite to intervene on prices. "Prices have likely overshot ...
Oil market rebounds LONDON: World oil prices rebounded Friday on bargain-buying, a day after the US benchmark fell below $80 for the first time in more than two years.However, the overall mood remained clouded by a supply glut in and concerns over demand caused by a slowdown in major European economies and China.US benchmark West Texas Intermediate for November added $1.29 to $83.99 a barrel.Brent North Sea crude for delivery in November won $1.24 to stand at $87.06.WTI ...
Oil rises above $87 as investors say market oversold LONDON: Brent crude rose more than a dollar to above $87 a barrel on Friday, bouncing from near four-year lows as investors bought back into a market they said was oversold in the short term.Oil has lost more than a fifth of its value since June on heavy oversupply, signs of weak demand growth and indications that key oil producers, particularly Saudi Arabia, have a limited appetite to intervene on prices."Prices have likely overshot to ...
Russia's Transneft resumes oil flows via ESPO pipeline - agency MOSCOW: Russia's oil pipeline monopoly Transneft has resumed supplies via its ESPO pipeline, Interfax news agency reported on Friday, citing a Transneft official.Transneft halted supplies on Oct. 15 after detecting a flaw in the East Siberia-Pacific pipeline."The defect has been eliminated, pumping was resumed overnight," Interfax cited Igor Demin, an adviser to the company's president as saying.Copyright Reuters, 2014 ...
Oil touches four-year low below $83 as economic worries mount LONDON: Oil fell to a four-year low under $83 a barrel on Thursday, as growing concerns over the global economy and abundant oil supply stretched a four-month rout.U.S. crude inventories rose 8.9 million barrels to 370.57 million barrels, Energy Information Administration data showed on Thursday, far higher than analysts' expectations for a build of 2.8 million barrels.Brent crude for November delivery dropped to $82.60 a barrel in early trading, the lowest since November 2010, and ...

 



 
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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