Middle East Economic Survey

VOL. XLVIII

No 5

31-January-2005

OPEC Likely To Defer Output Decision Until March But Oversupply Worries Loom

OPEC ministers appear likely to defer a decision on cutting output at their meeting on 30 January in Vienna until the ordinary ministerial conference scheduled for mid-March. With oil prices rising to eight-week highs close to the $50/B level in recent days, there appears to be little appetite for taking early action to restrain supply ahead of the seasonal...