Middle East Economic Survey

VOL. LII

No 8

23-Feb-2009

OIL PRICES

Société Générale Revises Oil Price Forecasts Downward

Société Générale (SG) is revising its oil price forecasts downward, the bank said in its latest issue of Oil Drivers, published on 17 February. Noting that its previous price forecast for Brent and WTI for the first quarter of 2009 had been reasonably accurate putting them in the $40/B range SG said actual and forecast economic growth has deteriorated dramatically over the last...