Middle East Economic Survey

VOL. LIV

No 41

10-Oct-2011

OPEC Supply Steady As Challenging Fundamentals Threaten Oil Market Status Quo

OPEC supply remained largely unchanged in September, according to the latest MEES estimates (see table). But a looming supply surge, largely driven by the restart of Libyan production, will likely pressure OPEC into reining in output, even if the slowdown in the global economy is not so serious as to trigger a drastic slippage in oil demand.

OPEC however has...