Middle East Economic Survey

VOL. XLIX

No 1/2

2/9-January-2006

MEES Agenda

Demand Growth, Capacity Constraints And OPEC Policy Lead Oil Price Drivers For 2006

Last year crude oil prices soared to all-time highs as a result of capacity constraints, both for crude oil production and refining, at a time of strong demand growth. While both producers and refiners are expanding their output capability, David Knott learns that capacity constraints are expected to remain as a key oil market driver for 2006....