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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


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.