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Oil market slides before weekend LONDON: World oil prices dropped Friday as investors locked in profits following a six-day rally, with a rise in OPEC's output in March also adding to downward pressure, analysts said.Brent North Sea crude for June delivery fell 38 cents to $63.60 per barrel in midday London deals.US benchmark West Texas Intermediate for delivery in May sank 42 cents to $56.68 a barrel."After a sustained increase in both the WTI and Brent over the past week, traders are selling... and this has led to the downward pressure in prices we see today," said analyst Daniel Ang at Phillip Futures in Singapore.Prices rose for the sixth day running on Thursday -- with WTI hitting its highest level since December -- on news that US shale output, which has contributed to a global supply glut, may be on the cusp of easing.But Ang said the oversupply was unlikely to end soon due to ...

Oil market jumps on hopes of easing global supply glut LONDON: World oil prices shot higher Wednesday on forecasts that US shale production would likely drop and help ease a global supply glut, analysts said.US benchmark West Texas Intermediate for delivery in May rallied to a two-month peak at $54.25 per barrel, before pulling back to $53.89, up 60 cents from Tuesday's close.Brent North Sea crude for May hit a three-week high at $59.63 a barrel. It later stood at $59.16 in midday deals, up ...
Oil above $59 on Middle East, US output, but IEA report caps gains LONDON: Brent crude oil prices rose above $59 a barrel on Wednesday amid tension in the Middle East and signs of a dip in U.S. production, but gains were capped by a report from the International Energy Agency (IEA) indicating that supplies would take longer to tighten than previously expected.Front-month Brent crude futures were up 68 cents at $59.11 per barrel by 0903 GMT, while U.S. crude futures were up 70 cents to $53.99.Prices were ...
Oil above $58 on US shale report, Mideast tension LONDON: Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tensions in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war.Brent crude was up 32 cents at $58.25 a barrel by 1339 GMT, while U.S. crude was up 57 cents at $52.48.The U.S. Energy Information Administration (EIA) said on Monday it expected U.S. shale ...
Oil above $58 on US shale output report, Mideast LONDON: Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tension in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war.Brent crude was up 30 cents at $58.23 a barrel by 1000 GMT, while U.S. crude was up 40 cents at $52.31.The U.S. Energy Information Administration (EIA) said on Monday it expected U.S. shale ...
Oil rises towards $59, supported by US drilling slowdown LONDON: Brent rose towards $59 a barrel on Monday in a volatile market, continuing gains after a strong end to last week as financial traders increased bets on higher prices amid a slowdown in U.S. drilling.Front-month Brent crude futures were up 82 cents at $58.69 a barrel by 0934 GMT, having earlier touched $59.54. U.S. crude had risen 78 cents to $52.42 a barrel, after touching $53.10."We found a bit of a momentum this morning," ...
Oil market edges upwards LONDON: World oil prices rose on Monday, extending last week's gains, but the persistent global supply glut will likely cap advances, analysts said.US benchmark West Texas Intermediate for delivery in May won 68 cents to $52.32 a barrel.Brent North Sea crude for May gained 79 cents to $58.66 around midday in London."There has been a continuation in the rise of oil prices from Friday's session, but the market has started this week cautiously due 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
WeeklyMay 21, 2015
Reserves $17.75 bln