Middle East Economic Survey

VOL. XLVIII

No 10

7-March-2005

OPEC Policy Based On Stock Cover And Prices, Says Société Générale

Saudi Arabian Oil Minister Ali al-Naimi told CNBC on 24 February that oil prices of $40-50/B are here to stay, but with Brent nearing $50/B and WTI already above it this seems more like an established fact than a forecast, according to Société Générale (SG).In the Weekly Oils report of 28 February, SG analysts Frederic Lasserre and Alexandre Kervinio said Mr Naimi had...