Middle East Economic Survey

VOL. XLVIII

No 1

3-January-2005

MEES Agenda

Oil Market Drivers For 2005

After a year of record high oil prices, what will be the main factors influencing prices in 2005, and what will the global impact be if they remain high? MEES Markets Editor David Knott found opinions among energy experts divided.

Crude oil prices scaled new peaks in 2004, with WTI exceeding $55/B for the first time, Brent passing $51/B, and the OPEC basket price topping $46/B. The latter was...