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,...
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