Middle East Economic Survey

VOL. L

No 8

19-Feb-2007

Naimi Sees Oil Markets Better Balanced, No Need For Output Changes If Prices Hold

The world oil market is better balanced and OPEC will not need to make any further adjustments to oil output when it meets in Vienna on 15 March if prices hold around recent levels, Saudi Oil Minister Ali Naimi said in an interview with the Wall Street Journal published on 12 February. Mr Naimi said Saudi production was now between 8.5-8.6mn b/d, down around 1mn b/d...