Middle East Economic Survey

VOL. XLVIII

No 50

12-December-2005

SUPPLY/DEMAND

EIA Forecasts Average WTI Price Of $63/B In 2006

The Energy Information Administration (EIA) of the US Department of Energy forecast that tight international supplies will keep crude prices high in 2006, with the price for WTI expected to rise from an average $57/B in 2005 to $63/B in 2006. In the latest monthly Short-Term Energy Outlook, published on 6 December, the EIA says: Many of the same factors that drove world oil...