Middle East Economic Survey

VOL. LII

No 38

21-Sep-2009

OPEC Forecast Highlights 1Q10 Fall In Demand For Its Crude

The first quarter of next year will be a critical period for OPEC producers, with the demand for its crude projected to fall by over 1.4mn b/d, the latest OPEC Monthly Oil Market Report (MOMR) shows. The call on OPEC crude will then decline by a further 440,000 b/d in the second quarter, according to the MOMR. This compares to 1.15mn b/d and 600,000 b/d for projected declines in 1Q10...