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OPEC not expected to change output next month: Kuwait KUWAIT CITY: Kuwait Oil Minister Mustafa al-Shamali said Wednesday that he does not expect the OPEC oil cartel to change production at its next ministerial meeting in December."I don't expect it to be changed because the production till now goes with the needs of consumers and that's enough," Shamali told reporters outside parliament."I think it won't be changed," he said, but added that the decision will ultimately depend on a review of statistics by ministers of the 12-member Organisation of the Petroleum Exporting Countries at the meeting in Vienna meeting early next month. The Kuwaiti minister also said the Gulf state was pumping around 2.9 million barrels per day but has a production capacity of 3.2 million bpd.OPEC on Tuesday increased its forecast for oil demand growth in 2013 on expectations of better-than-expected improvement in developed country economies.It said in its November monthly report that demand would average 89.78 million ...

Oil market stable, prices steady, say two OPEC members ABU DHABI: The oil market is stable and prices are steady, two oil ministers said on Sunday, weeks ahead of an OPEC meeting to decide whether the group needs to adjust its output target. "I think no, now the market is stable," Angola's oil minister Jose Botelho de Vasconcelos told Reuters in Abu Dhabi, when asked if OPEC needs to change its oil policy when the group meets next on Dec. 4 in Vienna. "The ...
Kuwait expects OPEC to keep crude output target unchanged NEW DELHI: Kuwait's oil minister said on Saturday he expected OPEC to keep its crude oil output target unchanged at its next meeting.Kuwait is a member of the Organization of Petroleum Exporting Countries (OPEC), the producer group that pumps more than a third of the world's oil. It will meet next on Dec. 4 in Vienna to decide whether to adjust its output target."It will be a normal meeting. We will consider everything regarding every ...
Shell 'manipulates Nigeria oil spills probes': Amnesty LAGOS: Amnesty International alleged on Thursday that Shell has repeatedly misrepresented the cause of oil spills in Nigeria, blaming criminal sabotage to avoid liability, in a charge the Anglo-Dutch energy giant dismissed as "unsubstantiated".The number of spills in the southern Niger Delta region, home to Africa's largest oil industry, was "staggering", the London-based rights group said in a new report, "Bad Information. Oil Spill Investigations in the Niger Delta".Shell, the largest onshore operator in the ...
Bad weather cuts oil exports from Iraq's south to 1.24mn bpd: source BAGHDAD: Bad weather trimmed oil exports from Iraq's Basra ports to 1.24 million barrels per day (bpd) on Sunday from 1.89 million bpd a day earlier, a shipping source said."High winds in the Gulf stopped full loading from the single-point mooring," the shipping source said.Iraq exports the bulk of its crude from southern ports on the Gulf.Copyright Reuters, 2013 ...
In Libya east, a former rebel commander tests Tripoli BREGA: For Libyan militia leader Ibrahim al-Jathran, shutting down half the country's oil production with an armed militia is not a crime, it is the start of a just battle for a fair share of country's petroleum wealth. From his base near the Mediterranean oil terminal of Brega, the 33-year-old war hero from the uprising against Muammar Gaddafi has taken control of the main oil ports to demand more autonomy and oil for ...
Kenyan official seeks government action as oil drilling halted NAIROBI: Drilling was suspended for a second day on Sunday at Tullow Oil's two exploration blocks in northwest Kenya because of local protests, and a senior local official called for intervention by the government.Tullow Oil said late on Saturday it had temporarily suspended drilling operations on Block 10BB and Block 13T in northwest Kenya due to security concerns after local residents held protests demanding more jobs at the sites.Josphat Nanok, the governor for Turkana County, ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln