Middle East Economic Survey

VOL. XLVIII

No 44

31-October-2005

OIL PRICES

Norways Enoksen: Reasonably High Oil Prices Needed To Stimulate Non-OPEC Oil Supply

Norwegian Petroleum and Energy Minister Odd Roger Enoksen on 26 October said that reasonably high oil prices were necessary in order to stimulate non-OPEC production capacity expansion. Speaking at a UK-Norway oil and gas seminar in London, he observed that oil production outside OPEC had grown for several years at a rather slow pace, despite...