Middle East Economic Survey

VOL. XLVIII

No 6

07-February-2005

Market Tensions Ease After OPEC Meeting And Iraq Elections

Crude oil prices eased last week, after OPEC ministers agreed on a widely-anticipated rollover of production quotas, and after Iraqi elections on the same day, 30 January, passed without attacks on oil installations. An initial fall in crude prices on 31 January was turned around near close of trading after news agencies picked up on a MEES report which warned that OPEC might...