Middle East Economic Survey

VOL. XLVII

No 32

09-August-2004

SUPPLY/DEMAND

Higher Prices Needed To Balance Demand With Supply, Says SG

Only higher oil prices can balance demand with supply in the short term, according to Société Générale (SG). In the report How Much Higher Need Oil Prices Go?, published on 2 August, SG Economist Deborah White says: SG believes that Nymex WTI at $48.50/B and IPE Brent at $45.00/B may be high enough to do it. US oil demand growth slowed to 0.7% over the past four...