Oil prices, US dollar and inflation

The International Monetary Fund (IMF) affirmed in a recent report that while the challenges in Libya were “daunting”, economic activity could recover quickly once the security situation normalized in that country. The IMF said in its report that “restoration of hydrocarbon production is well-advanced at over half of prerevolution levels and remains critical to economic recovery and reconstruction will boost non-hydrocarbon economic activity.” It stressed that despite the removal of UN sanctions on the Central Bank of Libya, the public sector's financial situation remains “precarious." The IMF expects economic activity to recover in 2012 as the security situation improves.

Inflation in Saudi Arabia edged down to its lowest rate in four years in 2011 as lower rents and food prices more than offset a rise in other components of the CPI.

In Nigeria, the central bank may raise interest rates to curb inflation if lawmakers boost spending above budgeted targets and lift the benchmark oil price, according to the Bank’s Governor. He said Nigeria is facing a “number of inflationary threats” this year, including a reduction in fuel subsidies and higher government spending.

• Middle East Oil Demand in May 2013 
• Japan Oil Trade in April 2013 
• Canada and Mexico Oil Supply – May 2013 
• Iraq Vows Action Against Kurdistan Crude Sales 
• Middle East Oil Supply - May 2013 
• US Oil Supply – May 2013 
• Kurdish Oil Sales to Rise as Exports Reach Turkey 
• Hpcl to Buy up to 40,000 bpd of Basra From Total 
• China Oil Trade - April 2013 
• South Sudan Cuts Oil Output, Sees New Problems with Sudan 

• OPEC Daily Basket Price Stood at $59.05 a Barrel 
• OPEC Daily Basket Price Stood at $59.76 a barrel 
• India Oil Demand in February 2012 
• OECD Pacific Oil Demand in February 2012 
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