Middle East Economic Survey

VOL. XLVIII

No 38

19-September-2005

OPEC Quota Hike Up For Debate But Oil Markets Seen Well Supplied

Recent pronouncements by OPEC officials have made it clear that the organization is ready to do whatever is required to bring stability back to oil markets in the wake of Hurricane Katrina and the ensuing price spike that saw crude hit new records above $70/B. OPEC President and Kuwaiti Energy Minister Shaikh Ahmad al-Fahd al-Sabah announced on 29 August he would propose...