Middle East Economic Survey

VOL. L

No 51

17-December-2007

IEA Sees Market Remaining Tight Despite Increased OPEC Supply

Although crude futures prices have dipped after testing $100/B in late November, the International Energy Agency (IEA) says that $90/B oil and significant price volatility reflect continuing concerns about supply and economic growth. In the latest monthly Oil Market Report, published on 14 December, the agency says that OPEC output was already rising ahead of the 1 November...