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Oil falls below $99 after large stock build in US LONDON: Brent crude oil fell below $99 per barrel on Wednesday after a bigger-than-expected build in weekly U.S. crude stocks, and a strong dollar continued to create headwinds for commodities.U.S. crude stocks rose more than twice as much as expected week-on-week, the Energy Information Administration said, as refineries cut output and imports jumped.Crude inventories were up 3.7 million barrels, compared with analysts' expectations for a decrease of 1.6 million barrels.Brent was down 42 cents at $98.63 a barrel by 1457 GMT, after closing up $2.40 in the previous session, the biggest daily gain since Sept. 3. U.S. crude was down 86 cents at $94.02 after rising 2.1 percent on Tuesday."It looks like we've got extra oil hanging around - that was the initial shock of the number," said Phil Flynn, an analyst at the Price Futures Group in Chicago."The number indicates the imports were pretty darn good last week, (which) ...

Oil prices hold steady LONDON: Oil prices steadied on Wednesday as dealers squared positions after the previous day's bumper gains which were stoked by indications the OPEC cartel will cut its production target next year.The market also awaited the latest energy stockpiles report and an interest rate decision in the United States, traders said.In early afternoon deals, Brent North Sea crude for delivery in November firmed seven cents to $99.12 a barrel from Tuesday's closing level.US benchmark West Texas ...
Oil steadies below $99 on talk of OPEC output cut LONDON: Brent crude oil consolidated around $99 per barrel on Wednesday, recovering from a sharp sell-off, on hopes the Organization of the Petroleum Exporting Countries (OPEC) would help reduce a global supply glut by cutting output.The benchmark sank to a 26-month low this week on rising supplies and signs of slower demand growth in China and Europe, but prices rallied after OPEC Secretary General Abdullah al-Badri said the group could trim its 2015 output target ...
UK gas prompt dips on resumed St Fergus flows LONDON: Prompt natural gas prices in Britain dipped on Wednesday following two days of strong gains, as flows resumed at Shell's St Fergus terminal after an unplanned outage on Tuesday.The day-ahead contract was down 0.2 pence or 0.4 percent at 49.80 pence/therm by 0917 GMT, retreating from a two-week high of 50.45 pence touched in the previous session.On Tuesday, Shell said some minor unplanned maintenance had impacted flows to St Fergus, but the company failed ...
Rosneft calls Khodorkovsky comments on Sistema owner arrest ‘absurd’ MOSCOW: Russia's top oil producer Rosneft said comments by ex-Yukos chief Mikhail Khodorkovsky linking the house arrest of a the owner of Sistema to Rosneft's interests in the conglomerate's oil assets as "absurd", RIA news agency reported. "I don't understand why Rosneft has something to do with that? This is absurd," the news agency quoted a Rosneft spokesman as saying on Wednesday. Khodorkovsky, in an interview with Vedomosti business daily, alleged that Rosneft's head, Igor ...
Oil prices rebound as OPEC hints at lower output LONDON: World oil prices rebounded sharply on Tuesday after the head of OPEC indicated that the crude producers' cartel could cut its production target for 2015.The widely-reported comments came from Abdullah El-Badri, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), after talks with Russian Energy Minister Alexander Novak in Vienna.In late afternoon deals, Brent North Sea crude for delivery in November rallied $1.40 to $99.28 per barrel from Monday's closing level.US benchmark West ...
Oil above $98, OPEC supply comments offset concern over demand LONDON: Brent crude oil rose above $98 per barrel on Tuesday, as the prospect of a likely supply cut from OPEC outweighed the impact of weak demand from the world's biggest energy consumers.OPEC Secretary General Abdallah El-Badri told reporters he expected the group to lower its oil output target to 29.5 million barrels per day (bpd) from 30 million bpd when it meets next in late November.Oil had fallen to a 26-month low the previous ...

 



 
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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 15, 2014
Reserves $13.414 bln