Middle East Economic Survey


No 22



High Prices Still Limit OPECs Scope For Action But Demand Softness Raises Concern

OPEC ministers have been mostly in agreement in recent days that the organizations upcoming meeting in Caracas on 1 June will not produce any dramatic change in stance on production policy, especially while oil prices remain close to recent historic highs. That said, there is private disquiet among ministers at some of the signs emerging from global...