Middle East Economic Survey


No 21


OPEC Meeting Seen Focusing On Compliance As Surplus Crude Haunts Market

OPEC is not expected to make any adjustment in its production target when it next meets in Vienna on 28 May, as crude oil prices this week crossed the $60/B mark. But despite the return to a price level that was not expected until much later in the year, OPEC continues to face the problem of over-supply and is likely to focus on the issue of compliance in order to remove a...