Middle East Economic Survey

VOL. LII

No 29

20-Jul-2009

OPEC Faces Third Straight Year Of Falling Call On Its Crude

Demand for OPEC crude will fall for the third successive year in 2010, notes OPEC in its latest Monthly Oil Market Report (MOMR). This year is likely to register a massive 2.3mn b/d rout in the call for OPEC crude, says the MOMR, but an anticipated rebound in global economic growth should limit the fall in the call to 400,000 b/d next year. But projections are riven with...