Middle East Economic Survey

VOL. XLVII

No 36

6-September-2004

OPEC

Khelil Sees Oil Prices Staying Firm Until Early 2005 Despite Extra Production

Despite steady increases in OPEC production over recent months, Algerian Oil Minister Chakib Khelil on 30 August sounded a warning note that oil prices would likely stay high relative to OPECs preferred $22-28/B price band for several months. We should expect prices to remain fairly high compared with our $22-28/B price band at least until early 2005, he...