Middle East Economic Survey

VOL. XLIX

No 52

25-Dec-2006

Signs Of 4Q Demand Slump Could Pressure Oil Markets In Early 2007

Preliminary indications of weakening US oil demand in the fourth quarter could establish the conditions for concerted pressure on prices early in the New Year, especially if mild weather conditions persist in the northern hemisphere, analysts believe. High commercial stocks were cited by several OPEC oil ministers meeting in Abuja in mid-December as the main threat to oil...