Middle East Economic Survey
VOL. XLVIII
No 24
13-June-2005
Crude Prices Volatile Ahead Of OPEC Meeting
Crude oil prices eased last week after a distillates-driven rally the previous week had pushed WTI above $55/B on 3 June. On 6 June OPEC President and Kuwaiti Energy Minister Shaikh Ahmad al-Fahd al-Sabah suggested that the organization might increase its output quotas when ministers meet on 15 June. This triggered a round of profit-taking, which continued the following day when he told...
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