Middle East Economic Survey
VOL. LII
No 8
23-Feb-2009
OPEC/SUPPLY/DEMAND
OPEC Sees Sudden And Massive Fall In Global Oil Consumption
The deterioration in the world economy has led to a significant reduction in global oil consumption, OPEC said in its latest Monthly Oil Market Report (MOMR), published on 13 February. As a result, the sudden and massive erosion in demand has helped push crude oil inventories up sharply in some key areas close to maximum capacity, according to the MOMR.
The...
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