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Oil prices fall on weak Chinese data LONDON: Oil prices dropped on Monday as data showing weak manufacturing activity in China fuelled concerns over energy demand in the world's second largest economy, analysts said.New York's main contract, West Texas Intermediate for delivery in March, eased 25 cents to $97.24 a barrel.Brent North Sea crude for March slid 45 cents to stand at $105.70 a barrel in London deals."Commodity prices are currently under pressure due to weaker-than-expected data on Chinese manufacturing activity," Desmond Chua, analyst at traders CMC Markets, told AFP. China on Saturday said manufacturing activity slipped to a five-month low in January, confirming a slowdown in factory activity in the world's top energy consumer. The monthly purchasing managers' index (PMI) declined to 50.5 in January after recording 51 in December and 51.4 in November, according to the government's National Bureau of Statistics and the China Federation of Logistics and Purchasing.Any figure above the 50 mark indicates ...

Oil lifted by cold weather, Fed trimming caps gains LONDON: Brent oil rose to $108 per barrel on Thursday as bitter cold in the United States boosted heating oil demand, though prices were capped by weak Chinese economic data and the US Federal Reserve's move to trim its monetary stimulus. Brent crude was up 18 cents to $108.03 a barrel as of 0922 GMT, after settling 44 cents higher the previous day. US crude gained 47 cents to $97.83, having reached $97.92, its highest ...
Shell sells stake in Brazil oil field for $1bn to Qatar LONDON: Anglo-Dutch energy giant Royal Dutch Shell said on Wednesday that it has sold a large stake in an offshore Brazilian oil field to Qatar for about $1.0 billion.Shell said it has agreed to offload a 23-percent interest in the Parque das Conchas (BC-10) project offshore Brazil to Qatar Petroleum International. The deal remains subject to regulatory approval in Brazil.The group will continue to operate the oil field, which currently produces 50,000 barrels of oil ...
Oil prices rebound on bargain hunting before Fed LONDON: The oil market rebounded on Tuesday as traders shrugged off poor US economic data to snap up bargain crude following recent losses, and awaited the Federal Reserve's next move on stimulus. Traders said prices also gained ground on worries that another severe cold snap in the United States would boost demand and dent heating fuel reserves in the world's top crude consuming nation.New York's main contract, West Texas Intermediate (WTI) for March, rallied $1.54 ...
Gasoline cracks down on muted demand: Europe LONDON: Gasoline refining margins in northwest Europe fell on Tuesday, as crude oil prices rose and regional demand was slack."Gasoline is just not doing much," said one trader.European refining has seen little respite this year after months of poor margins, with traders and analysts saying weak demand and depressed cracks raised the spectre of further cuts in processing throughputs and even closures."The start of the year has been brutal for European refining margins with the ...
Oil rises to $107 as chill expected to drain US fuel stocks LONDON: Brent crude oil rose to $107 a barrel on Tuesday as the steepest fall in three weeks prompted buying, but concerns over turmoil in emerging markets and a slowdown in China kept gains in check. Oil also drew support from expectations of a steep fall in US distillate inventories as consumers burn heating oil during the bitter northern hemisphere winter. That helped support oil despite weakness in Asian shares, which remained near five-months lows. ...
OPEC says can handle extra oil from Iran, Libya, Iraq LONDON: OPEC will be able to handle the extra oil expected to come from Iran, Iraq and Libya, OPEC's secretary general said on Monday, insisting the group would collectively head off any oversupply. Top OPEC supplier Saudi Arabia along with core Gulf producers the United Arab Emirates and Kuwait have increased supplies to fill the gap left from outages in Libya and Iraq and Western sanctions on Iran. A resolution of these issues could add ...

 



 
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln