World Bulletin / News Desk
Brent crude fell below $62 Friday after the number of oil rigs in the U.S. showed a sharp increase.
The international benchmark dipped to $61.72 per barrel at 1.40 EST (1840GMT), posting a daily loss of 4.7 percent, and reaching its lowest level since Dec. 7.
The American benchmark, West Texas Intermediate, hit $58.09 a barrel -- a 5 percent loss that marked its lowest level since Dec. 22.
The price declines were posted after the number of oil rigs in the U.S. jumped by 26, its highest weekly gain in a year, according to data released by oilfield services company Baker Hughes.
The number of rigs, which indicates the short-term change in the U.S.'s oil industry, is now at 791 -- its highest since April 2015 -- and a 34 percent increase over the last year.
The U.S.'s crude production hit a record high level last week by climbing to 10.25 million barrels per day (mbpd), according to the Energy Information Administration (EIA).
Crude output in the U.S. is expected to average 10.6 mbpd this year, an EIA report said earlier this week.
The U.S.' crude production is projected to reach 11.2 mbpd next year to surpass Russia as the world's biggest crude producer.
Turkey is 5th biggest start-up market in the world, says head of World Business Angels Investment Forum
Gas pipeline will also link Turkmenistan, Afghanistan, Pakistan, and India via roads, railways, and fiber optics
Inflation among EU19 countries down 0.1 percentage point from Dec. 2017, says Eurostat
BIST 100 rises 0.51 pct; USD/TRY exchange rate stays at 3.79 while EUR/TRY exchange rate drops to 4.66
Deal does not mean much unless countries resolve arbitration case, define pipeline route and get licenses: OME hydrocarbons Dir.
Bank's net profit rose to €1.3B last year, up around 7 pct from 2016
Over last decade, Turkey earned over $200M from hazelnut exports to China
BIST 100 index drops 0.15 pct, US dollar slightly up to 3.7970 Turkish liras, euro-lira rate down to 4.6640
BIST 100 index rises 1.40 pct, U.S. dollar up to 3.7910 liras, euro-lira rate climbs to 4.6740
10 Turkish agricultural machinery producers and exporters explore Ethiopian market during visit to Addis Ababa
Turkish firms' know-how' in construction sector is an advantage to have in joint projects in Africa: Japanese bank manager
BIST 100 index gains 0.48 percent at opening; USD/TRY stands at around 3.75
Office workers, farmers and radio hosts are taking on new nationalities, relocating their businesses or looking forward to lucrative alternative trade deals, as politicians struggle to come up with a plan.
The International Monetary Fund was going to be "attentive" to the consequences of the reform, which notably includes a sharply lower corporate tax rate, she told French radio station France Inter.
More than 9,000 new companies established in January, according to major business body