Middle East Economic Survey

VOL. XLVIII

No 47

21-November-2005

OPEC/OIL PRICES

OPEC Targeting $50/B As Base For Brent, Says SG

After the price of Brent crude has lost almost $15/B since its peak on 30 August (MEES, 5 September), Société Générale (SG) thinks that OPEC now has a base price target of $50/B for Brent and would be concerned if prices fell from present levels by a further $5/B. In the weekly Oil Drivers report of 14 November, SG analyst Frederic Lasserre said: We do not think OPEC is...