Middle East Economic Survey

VOL. XLIX

No 39

25-Sept-2006

SUPPLY/DEMAND

Société Générale: Demand Growth Risk To Downside

Oil prices have fallen by more than $15/B since their highs of early August, and Société Générale (SG) says that analysts explanations of this market correction diverge. In the Oil Drivers report of 18 September, SG analysts Frédéric Lasserre and Deborah White observe: Some read this fall as a major trend reversal, ie the end of four years of continuous bull run. Their call is...