Middle East Economic Survey


No 50


WTI Price Down 10% Since 1 December

The price of WTI crude settled at $70.54/B on 10 December, marking a steady daily decline amounting to a fall of 10% since it closed at $78.37/B on 1 December. WTI last closed this low on 7 October, when it settled at $69.57/B. Ample crude supplies and a weak dollar continue to influence the market, where hope for a quickening economic recovery is beginning to wane as the US economy moves into the holiday...