Middle East Economic Survey

VOL. XLVIII

No 50

12-December-2005

OIL PRICES

Crude Prices Rise Ahead Of OPEC Meeting As Weather Concerns Outweigh US Stockbuild

The WTI crude oil price returned above $60/B last week, as forecasts of cold weather in North America outweighed the effects of bearish US weekly inventories data published on 7 December. Just before the stocks data emerged, prices rose after a video interview with al-Qa'idas deputy leader appeared on a website, calling for attacks on oil...