Middle East Economic Survey

VOL. XLVIII

No 24

13-June-2005

EIA Sees WTI Averaging $53/B In Third Quarter As Tight Market Continues

The price of WTI crude oil is expected to average $53/B in 3Q05, according to the Energy Information Administration (EIA) of the US Department of Energy. In the latest monthly Short-Term Energy Outlook, published on 7 June, the EIA says that this prediction is $1/B higher than in its previous Outlook (MEES, 16 May), and $9/B higher than in 3Q04. The report notes that...