Middle East Economic Survey

VOL. XLIX

No 7

13-February-2006

OIL PRICES/SUPPLY/DEMAND

EIA Predicts WTI Average Price Of $65/B For 2006

The Energy Information Administration (EIA) of the US Department of Energy has raised its forecast average WTI price for 2006 to $65/B, saying that cold weather in parts of Asia and Europe combined with uncertainties regarding oil supplies from Nigeria, Iran and Iraq were helping to keep prices high. In the latest monthlyShort-Term Energy Outlook, published on 7...