Middle East Economic Survey


No 16


EIA Foresees Drawdown In Global Stocks, Increasing Call On OPEC Crude

The Energy Information Administration (EIA) of the US Department of Energy said it expects oil markets to continue to tighten over the next two years given expected robust growth in world oil demand and slow growth in supply from non-OPEC countries. These conditions result in an expected drawdown of global petroleum stocks and a call for increasing production from OPEC...