Middle East Economic Survey


No 3


Inventories Built Contra-Seasonally In December, Says Rothman

Preliminary estimates for global petroleum inventories show a continued contra-seasonal increase during December, according to Mike Rothman, First Vice-President and Chief Energy strategist at Merrill Lynch. In the Energy Weekly report of 7 January, he observed: Numbers for the large US market (which represents 40% of the worlds measurable storage) rose about 1mn barrels...