Middle East Economic Survey
VOL. XLVIII
No 39
26-September-2005
Crude Prices Rise As Hurricane Rita Heads For Gulf Coast
The Gulf of Mexicos unusually turbulent storm season continued last week, driving crude oil prices higher as the new Hurricane Rita headed towards Gulf Coast offshore oil production and refining facilities. The rise stalled on 20 September as investors took profits and OPEC offered an additional 2mn b/d of production capacity in case of any crude supply shortfall. However, the...
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