Middle East Economic Survey

VOL. XLIX

No 49

4-Dec-2006

OPEC

OPEC Looking For Meaningful Drawdown In Oil Stocks During First Quarter

Although there is no consensus yet on whether additional oil output cuts will be needed when OPEC ministers meet in Abuja in mid-December, major OPEC producers want output policy to achieve a meaningful drawdown in commercial stocks during the first quarter. Whatever is decided in Nigeria, the challenges presented by an uncertain global economic outlook, high...