Middle East Economic Survey

VOL. XLIX

No 45

6-Nov-2006

Analysts See Chinese Demand Bullish For Crude Prices

Chinese stockbuilding and stronger-than-expected demand are continuing to support oil prices, analysts say. A major reason for crude oil prices hovering around $58/B rather than plunging to $50/B is Chinese stockbuilding, according to Société Générale (SG). SG believes that the way in which China manages its strategic stocks, whether releasing inventory only in emergencies or whether...