Middle East Economic Survey

VOL. XLIX

No 16

17-April-2006

EIA Predicts Tight Oil Market Will See WTI Price Averaging $65/B In 2006

The Energy Information Administration (EIA) of the US Department of Energy sees continued steady worldwide oil demand growth combining with only modest increases in global spare oil production capacity and continuing risk of geopolitical instability to keep crude oil prices high in 2006. In the latest monthly Short-Term Energy Outlook, published on 11 April, the EIA...