Middle East Economic Survey
Speculation Returns To Crude Market As Price Advances Ahead Of Forecasts
Crude oil prices have increased faster than expected, hitting $72.68/B on 11 June with little support from fundamentals. Forecasts made earlier this year put crude in the $70+/B range in the third or fourth quarter provided that demand picked-up. While the key forecasting agencies have predicted improvements in crude oil demand for the later part...