Middle East Economic Survey

VOL. LII

No 12

23-Mar-2009

OPEC Rolls Over Production Targets Ahead Of G20 Summit

OPEC ministers meeting in Vienna on 15 March brushed off the threat posed by a projected 1.3mn b/d second quarter oil demand slip to keep their 24.845mn b/d output target unchanged. The state of the world economy dominated ministers concerns, with fears that any cut might exacerbate the global economic crisis and jeopardize any recovery in demand. Ministers were looking to the scheduled...