Middle East Economic Survey

VOL. L

No 28

9-July-2007

SUPPLY/DEMAND/OIL PRICES

Société Générale Says Refining Problems And OPEC Strategy Continue To Support Prices

While downstream problems were a major factor behind the 2Q07 oil price rise, recent reductions in OPEC quotas have also played a key role, according to Société Générale (SG). In the quarterly Commodities Review, published on 2 July, SG Head of Commodities Research Frédéric Lasserre says the 1H07 rise in prices has been underpinned by...