Middle East Economic Survey

VOL. XLVIII

No 51

19-December-2005

OPEC/OIL PRICES

Crude Prices Lifted By OPEC Decision To Review Supplies Before 2Q06

Crude oil prices surged on 12 December as OPEC ministers meeting in Kuwait decided to maintain current supplies, but to meet again on 31 January to reassess the market ahead of the usual 2Q demand fall. The rise came despite IEA Executive Director Claude Mandil announcing that the agency was unlikely to sanction a second release of crude and products...