Middle East Economic Survey


No 52



Crude Prices Rise On Strong US Products Demand

Crude oil prices eased early last week on predictions that the milder weather in North America would continue, but steadied on 20 December on expectations of a stockdraw in weekly US inventories data due for publication the following day. The rally was aided by news of a pipeline blast in Nigeria which shut in 180,000 b/d of crude production capacity. The stocks data showed an...