Middle East Economic Survey

VOL. L

No 49

3-December-2007

Crude Prices Slide On Expectations Of OPEC Supply Increase

WTI and Brent crude prices posted new settlement records on 23 November as the value of the dollar reached new lows. On 26 November WTI continued rising to $99.11/B testing the $99.29/B record set on 21 November and Brent hit a new peak of $96.65/B, before beginning to slide on concerns that demand growth was faltering and speculation that OPEC would increase output at its 5...