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PVM Midday Report 12 March 2015

Published Thursday, March 12th, 2015

  • El Feel and Wada oil fields are operating normally
  • Kirkuk oil flow to Turkey suspended due to leak
  • Eurozone January industrial output up in January
  • IS claims to attack police station in Tripoli
  • Greek unemployment up at 26.1% in 4Q14

Economy

The recovering euro that has broken back above the 1.06 mark against the dollar this morning is greatly aided by the latest eurozone factory data. Although industrial production fell a nudge in January month-on-month it was up 1.2% compared to the same month of last year beating analysts’ expectation of a rise of 0.1%. The ECB is going ahead with its bond-buying programme and had reportedly bought nearly 10 billion euros worth of bonds in the first three days since the launch. Greek jobless rates rose to 26.1% in the fourth quarter of last year, up 25.5% from the previous quarter. Main European stock indices are registering daily gains at the time of writing.

 

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.