Middle East Economic Survey

VOL. XLIX

No 5

30-January-2006

OIL PRICES

Crude Prices Ease On Saudi Supply Pledge And US Products StockbuildWhile crude oil prices remain underpinned by the Iran nuclear standoff and violent protests in Nigeria, they eased last week after Saudi Arabia and the IEA promised additional supplies in case of a major disruption and as US products inventories increased strongly. Saudi Arabian Oil Minister Ali Naimi told an Indian TV station on 23 January that the market was...