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Oil steadies ahead of OPEC meeting LONDON: Oil prices steadied on Thursday as a weaker dollar offset worries over a global supply glut ahead of a meeting of OPEC oil producers.The Organization of the Petroleum Exporting Countries (OPEC) is widely expected on Friday to keep a group output target of 30 million barrels per day (bpd), despite calls from some producers to cut supply to support prices.The cartel is now pumping about 2 million bpd more than needed, analysts say, feeding a glut that has left millions of barrels in storage and kept prices at close to half their peak levels last year.Brent for July was up 25 cents at $64.05 a barrel by 1035 GMT. U.S. crude futures were 20 cents higher at $59.85.The dollar was down 0.7 percent against a basket of currencies, making oil cheaper for non-dollar investors, as the euro surged on German Bund yields."The stronger euro is now supporting oil prices," ...

Oil up ahead of OPEC meeting as dollar slips LONDON: Oil prices rose on Tuesday in response to a weaker dollar and expectations that OPEC producers will maintain their group production target at its current level and resist pressure for an increase.The dollar fell against the euro and a basket of currencies, making oil cheaper for consumers in Europe and also for holders of other currencies.Brent crude oil for July was up 40 cents at $65.28 a barrel by 1030 GMT. U.S. crude was ...
Oil falls as OPEC output stays high, dollar rises LONDON: Crude oil prices dropped on Monday as the dollar rose and on expectations that OPEC production would remain high, stoking worries of oversupply despite declining U.S. rig operations.The Organization of the Petroleum Exporting Countries (OPEC) pumped at a two-and-a-half year high of 31.22 million barrels of oil per day (bpd) in May, Reuters monthly survey shows.The 12-member cartel meets in Vienna on Friday but is expected to maintain its current production policy, keeping the ...
Oil prices firm on mixed US stockpiles report LONDON: Oil edged higher Friday after a mixed US report showed a healthy decline in crude and gasoline reserves but a rise in output that could aggravate the global supply glutIn late morning London deals, Brent North Sea crude for July added 85 cents to $63.16 per barrel, compared with Thursday's closing level.US benchmark West Texas Intermediate (WTI) for delivery in July won 71 cents to $58.39 a barrel.The market had ticked higher Thursday after ...
Russia's Rosneft says considering moving LNG project away from Sakhalin MOSCOW: Russia's top oil producer Rosneft said on Thursday it is considering moving the construction of its liquefied natural gas plant away from the Pacific Ocean island of Sakhalin due to Gazprom's venture not giving it access to a gas pipeline. Rosneft signed an agreement with ExxonMobil in 2013 that aimed at starting production of 5 million tonnes per year of LNG from 2018 at Sakhalin. Rosneft has long been seeking access to the Sakhalin ...
Oil drops as dollar rally resumes LONDON: Oil prices fell to their lowest levels in a month on Thursday as the dollar resumed a 10-day rally, making fuel more expensive for holders of other currencies.The dollar has risen more than 4 percent against a basket of currencies over the last 10 days, helping accelerate a fall in oil prices from a five-month high early in May.The dollar spiked after a stronger-than-expected rise in U.S. pending homes sales in April, traders said."Much ...
Oil market climbs before US energy report LONDON: World oil prices rose Thursday on expectations that the latest US stockpiles report will show a further dip in crude reserves as traders worry about a global oversupply, analysts said. In early afternoon London deals, Brent North Sea crude for July added 29 cents to $62.35 per barrel, compared with Wednesday's closing level.US benchmark West Texas Intermediate (WTI) for delivery in July won 24 cents to $57.75 a barrel.The Department of Energy's weekly petroleum ...

 



 
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln