Middle East Economic Survey

VOL. LII

No 15

13-Apr-2009

SUPPLY/DEMAND

Gulf Oil Demand Remains Resilient, Says PFC

Demand for crude in the Gulf has remained resilient despite the fact that the global financial crisis has begun to wreak havoc on the regions economies, PFC Energy said in a memo issued on 5 April. Initial data suggests that oil demand in Gulf states has not been affected as severely as in other regions, the report said. Although construction activity in the Gulf continues to move...