Middle East Economic Survey

VOL. LII

No 8

23-Feb-2009

OIL PRICES

WTI Price Jumps As EIA Data Shows Slight Draw On Stocks

The price of WTI increased by 14% on 19 February following the release of data from the US Energy Information Agency (EIA) showing that commercial oil inventories had decreased over the last week by 0.2mn barrels from 350.8mn barrels to 350.6mn barrels and that crude oil imports had slipped by 859,000 b/d to 8.8mn b/d. Crude stocks had been expected to rise by as much as 3mn...