Middle East Economic Survey

VOL. XLVIII

No 50

12-December-2005

OPEC

Pro-Chavez Coalition Wins Legislative Elections

The Fifth Republic Movement of Venezuelan President Hugo Chavez will dominate the countrys National Assembly after winning the majority of seats in legislative elections, which were widely boycotted by opposition parties. The opposition boycott resulted in only some 25% of registered voters turning out. While most OPEC member countries have boosted savings and oil investment during...