Middle East Economic Survey


No 30


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...