Middle East Economic Survey


No 30


Tighter Fundamentals Will Underpin Higher Oil Prices

The following is the Executive Summary of Higher Oil Prices: Causes And Consequences 2005 published recently by Energy Intelligence Research (www.energyintel.com). Its authors areSharif Ghalib and David Knapp.

The global oil market appears to have experienced a structural change since early 2004 that has unexpectedly lifted the global price of oil to a sharply higher level, to an average...