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Oil prices extend losses LONDON: Oil prices extended losses in Wednesday to six-year lows on expectations that US crude stockpiles will rise further, in a market already awash with supplies, analysts said.The New York price slid to $42.05 a barrel -- the lowest level since March 2009. US benchmark West Texas Intermediate for delivery in April later stood at $42.24, down $1.22 a barrel compared with Tuesday's close.Brent crude for May delivery was down 45 cents to $53.06 a barrel in London midday deals."We expect the US stockpiles to increase further and this will exacerbate the market's supply concerns," said David Lennox, resource analyst with Fat Prophets trading group.A Bloomberg News survey showed US crude stockpiles are expected to have increased by 3.3 million barrels to another record 452.2 million in the week ending March 13.The US Energy Information Administration will release the official figure later Wednesday.US stockpiles have risen for nine weeks in ...

Brent oil falls below $53 as industry data shows US stocks at record high LONDON: Brent oil prices fell below $53 a barrel on Wednesday on oversupply concerns as industry data indicated U.S. crude stocks had hit a new record high.U.S. crude inventories rose by 10.5 million barrels to 450 million barrels in the week to March 13, American Petroleum Institute (API) figures showed on Tuesday.Analysts had expected a 3.8-million-barrel increase.Brent for May delivery was down 62 cents at $52.89 per barrel by 1058 GMT after ending the previous ...
Europe Gasoline/Naphtha: Gasoline firms on strong overseas demand LONDON: Gasoline refining margins in northwest Europe rose on Tuesday supported by demand from West Africa, the Americas and Asia. Analysts at JBC Energy said in a note on Tuesday that gasoline margins worldwide were supported by US refinery maintenance and outages as well as rising demand from Asia.They did, however, sound a note of caution in the near future pointing to "a light maintenance schedule on both sides of the pond (that) could see ...
North Sea Crude: Forties weak, Trafigura buys third cargo LONDON: North Sea Forties crude price differentials remained under pressure on Tuesday reflecting weak European refining demand and ample supplies for April.Trafigura bought its third Forties cargo of the week in the afternoon price assessment window. All three are for early April loading.It was unclear whether Trafigura was planning another VLCC fixture to South Korea. One trader suggested it could be filling the GS Caltex shipment, which was first mooted back in February. This has ...
US oil price holds near six-year low LONDON: New York oil prices held near six-year lows Tuesday on worries over growing US stockpiles and after OPEC warned of a stubborn global supply glut, analysts said.US benchmark West Texas Intermediate (WTI) for April delivery slid to $42.63 a barrel -- touching the lowest level since March 11, 2009.The contract later recovered slightly to stand at $43.83, down five cents from Monday's close.In late afternoon London deals, European benchmark Brent North Sea crude for ...
Crude oil weaker, higher U.S. inventory expected LONDON: Brent crude oil prices pared losses in choppy trading on Tuesday, but remained at the lowest levels since early February as traders refocused attention on the mounting supply glut.Rising U.S. crude oil stocks, an increase in Libyan oil production and the chance of an agreement between Iran and the West that could ease sanctions on the oil producer and boost its exports all pulled prices lower."OPEC members are still staunchly producing...and demand from Europe ...
US oil price nears six-year low LONDON: New York oil prices approached six-year lows Tuesday on worries over growing US stockpiles and after OPEC warned of a stubborn global supply glut, analysts said.US benchmark West Texas Intermediate (WTI) for April delivery slid to $42.63 a barrel -- touching the lowest level since March 11, 2009. It later stood at $42.70, down $1.18 from Monday's close.Nearing midday in London, European benchmark Brent North Sea crude for May delivery fell $1.14 to $52.80 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln