Middle East Economic Survey

VOL. XLVIII

No 5

31-January-2005

Merrill Lynch Raises 2005 WTI Price Forecast To $41/B On Continuing Strong Demand

Merrill Lynch has raised its forecast for the average WTI crude price in 2005 to $41/B from $36/B. In the report Same Cards, Different Deck, published on 24 January, Merrill Lynch First Vice-President and Chief Energy strategist Michael Rothman explains: A softening of oil demand growth rates expected to begin in last years fourth quarter did not occur and,...