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...
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