Middle East Economic Survey

VOL. XLVIII

No 10

7-March-2005

Prospect Of OPEC Cut Fades As Oil Price Rally Continues

The combination of the relentless rise in oil prices back to new record highs for the OPEC Basket, consumer concerns about the impact of high prices on economic growth and recent less hawkish comments by OPEC ministers and officials suggest that the prospect of an OPEC decision to cut production at the upcoming 16 March meeting in Iran is fading. Kuwaiti Energy Minister and OPEC...