Middle East Economic Survey

VOL. XLVIII

No 11

14-March-2005

OPEC Weighs Strong Oil Demand As Prices Test Record Highs

OPEC ministers are likely to roll over production quotas when they meet in Isfahan, Iran on 16 March as resilient oil demand and the sustained late winter cold weather in the Atlantic Basin have driven oil prices up to record highs again, despite evidence that the physical market is amply supplied and that stocks remain healthy. The price rally and upwards revision to demand have...