Middle East Economic Survey
VOL. LII
No 12
23-Mar-2009
WTI Tops $51/B Following OPEC Quota Rollover, Moves By US Federal Reserve
WTI crude closed above $51/B on 19 March, its highest settlement price since 28 November 2008. Meanwhile, Brent closed in London above $50/B. Last weeks rise in oil prices followed OPECs decision on 15 March to stick with its production target of 24.845mn b/d and an announcement by the US Federal Reserve on 18 March that it would buy back more than $1 trillion in...
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