Middle East Economic Survey


No 16


Crude Prices Ease Further As Stocks Build

Crude oil prices last week continued to ease from their record high on 4 April, as weekly US inventories data published on 13 April showed that crude oil stocks built for the ninth week in a row and gasoline stocks increased more than expected. Although there was a recovery on 11 April because of technical trading, the descent continued next day as the IEA reduced its demand growth forecast...