Middle East Economic Survey
VOL. XLVIII
No 26
27-June-2005
MEES Agenda
Illusive Demand Response Seen As Sole Remedy To Rising Oil Prices
OPECs decision on 15 June to raise quotas by 500,000 b/d again demonstrated the organizations commitment to bringing stability back to the oil market after prices hit new long-term highs. But the move did not add any fresh production, merely legitimizing present output levels for the group. Oil prices have responded to the perception of narrowing global spare...
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