Middle East Economic Survey


No 20


OPEC Holds Outlook Steady In A Volatile Market

The latest OPEC Monthly Oil Market Report (MOMR) kept projections for economic growth, oil demand trajectory and the call on OPEC crude broadly unchanged from last month in the face of extreme market volatility, which witnessed the sharpest weekly [price] decline on record. The May MOMR, showing as it does a 2mn b/d-plus projected jump in the demand for OPEC crude next quarter, provides...