Middle East Economic Survey


No 8


Crude Prices Rangebound On Supply/Demand And Distillates/Gasoline Signals

Crude oil prices were volatile but rangebound last week, as crude traders weighed mixed signals on supply and demand and gasoline increased in influence over heating fuels as the driver of products markets. A crude price slump on 12 February came after the Wall Street Journal quoted Saudi Oil Minister Ali Naimi playing down the need for any change in output at the next OPEC...