Middle East Economic Survey


No 43


FACTS Says High Crude Prices Here To Stay

Current crude oil prices in inflation-adjusted terms remain well below their peak and will stay strong for the foreseeable future, according to Honolulus FACTS Inc. In the report Petroleum Price Outlook: High Prices Here To Stay, published in mid-October, FACTS analyst J Y Lim observes: The nominal price for Arab Light crude in 2Q05 reached nearly $50/B for the first time in three decades, but...