Middle East Economic Survey


No 11


EIA Expects $45/B+ WTI Throughout 2005-06

The Energy Information Administration (EIA) of the US Department of Energy has raised it forecast 1Q05 WTI price upwards to $48.70/B, which is $2/B higher than its previous estimate (MEES, 14 February) and $13/B above the WTI price for 1Q04. In its latest monthly Short-Term Energy Outlook, published on 8 March, the EIA said: WTI prices are likely to remain near the mid-to-high $40s/B (or higher)...