Middle East Economic Survey

VOL. LIV

No 52

26-Dec-2011

Former OPEC Chiefs Highlight Oil Market Uncertainty

Extreme uncertainty is weighing on the global oil market, Algerias former oil minister Chakib Khelil and the former head of Libyas state-owned National Oil Corporation (NOC), Shukri Ghanem, tell MEES. This uncertainty, especially on the supply side, was the critical factor behind OPECs 14 December decision to declare a 30mn b/d output ceiling without allocating individual country quotas,...