Middle East Economic Survey
VOL. XLVII
No 24
14-June-2004
OIL PRICES
Crude Prices Settle In Lower Range As Traders Factor In OPEC Supply Boost
Benchmark crude oil prices eased from their recent all-time highs last week, as speculative investors reduced their long position in crude oil futures in response to OPECs 3 June decision to bring new oil supplies to the market (MEES, 7 June). Prices appeared to be constrained within a range of about $35-40/B, with the expectation of additional crude oil...
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