Middle East Economic Survey

VOL. XLVII

No 39

27-September-2004

SUPPLY/DEMAND

EU Set To Drop Strategic Oil Stocks Plan Amid Widespread Opposition

EU Energy and Transport Commissioner Loyola de Palacio is set to withdraw a plan to develop a European strategic oil reserve due to opposition from member countries and European parliamentarians. Speaking to the European Parliaments energy committee, Ms de Palacio said she would withdraw the proposal before she ends her five-year term in October. In...