Middle East Economic Survey

VOL. XLVIII

No 5

31-January-2005

Crude Prices Buoyed By Uncertainty Ahead Of OPEC Meeting And Iraqi Elections

Crude prices held steady at their highest level since the end of November, in a week marked by cautious technical trading ahead of an OPEC ministerial meeting in Vienna and elections in Iraq, both on 30 January. While OPEC was not expected to reduce its production targets further after the December decision to cut supplies by 1mn b/d (MEES, 20/27 December 2004),...