Middle East Economic Survey
VOL. XLVIII
No 30
25-July-2005
MEES Agenda
High Prices Now Impacting Both Oil Demand And Supply
For the last two years or so soaring oil demand growth has created a market in which prices have reached new records, yet refiners are prepared to pay them, because they are making record profits and because a contango in futures contracts suggests further market tightness lies ahead. However, the IEAs July monthly forecast suggests for the first time that high prices are...
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