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Oil prices drop on Chinese woes LONDON: World oil prices slid on Monday to around four-month lows, hurt by poorly received economic data from China, the world's top energy consuming nation, traders said.A strong dollar and signs of increasing US oil production added further pressure to prices, which have already been depressed by a global oversupply of crude.US benchmark West Texas Intermediate (WTI) for September delivery fell 63 cents to $47.51 a barrel, pulling back from a near four-month low of $47.20 struck earlier in the day.Brent North Sea crude for September dropped $1.01 a barrel to stand at $53.61 a barrel in late London deals. It earlier struck a four-month low at $53.33."The strengthening of the US dollar, weak manufacturing data from China and rise in the US rig count added to the woes of a weak crude market," said EY analyst Sanjeev Gupta.The Chinese government on Monday said profits of major industrial firms slipped ...

Oil prices drop on Chinese, US data LONDON: World oil prices slid on Monday, hurt by poorly-received economic data from China, the world's top energy consuming nation, traders said.A strong dollar and signs of increasing US oil production added further pressure to prices, which have already been depressed by a global oversupply of crude.US benchmark West Texas Intermediate (WTI) for September delivery fell 64 cents to $47.50 a barrel.Brent North Sea crude for September dropped 94 cents to stand at $53.68 a ...
Russia's Gazprom says files case against Turkmengaz over price MOSCOW: Russian gas company Gazprom said on Friday it had filed a case against Turkmenistan's Turkmengaz at the international arbitration court in Stockholm over the price in a supply contract. A spokesman for the Russian company said: "A lawsuit has been filed in Stockholm. The demand - a revision of prices." Copyright Reuters, 2015 ...
Nigeria to export around 1.89mn bpd oil in Sept LONDON: Nigeria is set to export around 1.89 million barrels per day of crude oil in September, a provisional shipping list showed on Friday. This was down from 1.94 million bpd in August, the highest total since January. Exports of the benchmark Qua Iboe grade were set to fall to 348,000 bpd in September from 368,000 bpd in August, their lowest since June. Copyright Reuters, 2015 ...
Brent crude nears 4-month low as China factories contract, dollar firms LONDON: Oil prices hovered near four-month lows on Friday after data showed a contraction in China's factory sector and the dollar rose against a basket of currencies. Activity in China's manufacturing sector shrank at the fastest pace in 15 months in July, according to a preliminary private purchasing managers' survey. "Concerns around the demand environment were heightened further today by the PMI (Purchasing Managers' Index) read out of China," said Michael McCarthy, chief market strategist ...
Oil prices steady; WTI stuck below $50 LONDON: Oil prices were narrowly mixed Thursday, with New York prices stuck below $50 after a rise in US crude stockpiles added to concerns over a supply glut, analysts said.Brent North Sea crude for delivery in September fell 13 cents to stand at $56 a barrel in London midday deals.US benchmark West Texas Intermediate (WTI) for September was up nine cents at $49.28 a barrel -- after closing Wednesday below $50 for the first time ...
Oil prices rebound slightly after ducking under $50 LONDON: World oil prices ducked briefly under $50 per barrel on Tuesday, before staging a modest rebound on the eve of the latest snapshot of US crude inventories.US benchmark West Texas Intermediate for delivery in August sank in early morning deals to a 3.5-month low of $49.77, hit by dollar strength and expectations of more Iranian crude in an oversupplied global market.However, the WTI contract then rebounded to stand at $50.43, up 28 cents from ...

 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln