Middle East Economic Survey

VOL. XLIX

No 13

27-March-2006

OPEC/SUPPLY/DEMAND

OPEC Not Concerned Over Near-Term Oil Surplus, Says SG

Although there is expected to be a surplus of crude supply in the near-term, Société Générale (SG) believes that OPEC does not fear a repeat of the 1997 decision in Jakarta to increase quotas by 2mn b/d, which triggered a price collapse to less than $10/B for some crudes. In the weekly Oil Drivers report of 20 March, SG analysts Frédéric Lasserre, Deborah White and...