Middle East Economic Survey

VOL. XLVIII

No 49

5-December-2005

OIL PRICES/SUPPLY/DEMAND

Crude Prices Reflect Market Uncertainty Ahead Of OPEC Meeting

Crude oil prices continued to decline early last week as the northern hemispheres mild weather spell eased traders concerns about winter supply of heating oil. However, weekly US inventories data published on 30 November caused markets to tighten in response to an unexpected crude stockdraw as US refining capacity continued to come back on-stream after...