Middle East Economic Survey


No 49


Signals Of A New Floor And Ceiling For Crude Oil Prices

By Behrooz Baik Alizadeh

Mr Alizadeh is Senior Oil Market Analyst at the Ministry of Petroleum of Iran (balizadeh@nioc.org). This analysis is based upon the personal opinion of the author and does not represent the official view of the ministry.

Crude oil prices experienced their sharpest ever decline in the latter half of 2008. North Sea Brent was sold at $40.35/B in December 2008, which...