Middle East Economic Survey

VOL. XLVIII

No 11

14-March-2005

Crude Prices Pushed To New Records By Cold Weather, Strong Demand

Brent and OPEC Basket crude prices reached new heights last week, while WTI neared its record level against a background of sustained cold weather in the key demand regions of the northern hemisphere and upwards revisions to demand forecasts for 2005. The price surge came despite reports that Saudi Arabia would carry March supply volumes over into April and weekly US data...