Middle East Economic Survey

VOL. XLIX

No 12

20-March-2006

OPEC/SUPPLY/DEMAND

OPEC Publishes Long-Term Strategy Document

Following its adoption by ministers in September 2005, OPEC has published its Long-Term Strategy which focuses on scenarios for oil demand, non-OPEC oil supply and the development of the downstream sector. While the report does not give outright forecasts, its scenarios appear to point to oil demand above 110mn b/d in 2020 under the Protracted Market Tightness (PMT) or bullish...