Middle East Economic Survey
VOL. XLVIII
No 20
16-May-2005
EIA Trims 2Q05 WTI Price Forecast By $6/B On Rising Inventories
The Energy Information Administration (EIA) of the US Department of Energy has decreased its forecast average for WTI in 2Q05 by $6/B to $51/B, which is still $13/B higher than 2Q04, after prices fell from all-time highs in early April in response to building US inventories. In the latest monthly Short-Term Energy Outlook, published on 10 May, the EIA says: While crude oil...
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