Middle East Economic Survey


No 15


EIA Hikes WTI Price Forecast To An Average $55/B For 2005-2006

The Energy Information Administration (EIA) of the US Department of Energy has revised upwards its forecast for WTI prices to an average $55/B during 2005-06, in the light of robust demand growth and global production capacity constraints. In the latest monthly Short-Term Energy Outlook, published on 7 April, the EIA says: The average WTI crude oil price for 1Q05 was $49.77/B,...