Middle East Economic Survey

VOL. XLIX

No 6

6-February-2006

OIL PRICES

Crude Prices Supported By Iran Nuclear Standoff

Crude oil prices were supported early last week by concerns over Irans nuclear standoff, as US and European efforts to have Iran reported to the UN Security Council gathered momentum. As OPEC ministers gathered in Vienna on 30 January to discuss production targets,Venezuela boosted prices by reiterating a pledge to support Iran in the nuclear wrangling. However, OPECs widely...