Middle East Economic Survey


No 35


MEES Agenda

Budget Oil Prices Higher In 2010, According To Preliminary Data

The first few oil producers to provide preliminary data for their 2010 budgets have revised their oil prices upwards from the levels calculated for 2009. This suggests that they have been encouraged by the recent improvement in crude prices, which are now hovering around the $70/B level, despite pessimistic forecasts, including that from OPEC. The latter said in the...