Middle East Economic Survey
VOL. LII
No 16
20-Apr-2009
OIL PRICES
WTI Slips Below $50/B As Supply Remains Abundant
WTI closed at $49.25/B on 15 April after the US Energy Information Administration (EIA) released data showing that US crude oil stocks had increased by 5.6mn barrels from the previous week, an indication that crude supply remains abundant and unable to support a price above $50/B. Those times recently when the WTI price has exceeded $50/B has been attributed by analysts to economic...
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