Middle East Economic Survey

VOL. LII

No 3

19-Jan-2009

OIL PRICES/SUPPLY/DEMAND

Société Générale Sees Price Set By Demand Weakness Vs OPEC Cuts

Société Générale said in its 12 January issue of Oil Drivers that economic and oil demand weakness will set a ceiling for crude oil prices, while OPEC production cuts will set a floor, adding that the price range centered on $40/B now appears to be emerging. Just as the Russia vs Georgia war and the US Gulf Coast hurricanes provided two episodes of...