Middle East Economic Survey
VOL. XLVII
No 43
25-October-2004
SUPPLY/DEMAND
Tanker Shortage To Keep Freight Rates High In 2005, Says Société Générale
Besides a 34% rise in oil prices since the beginning of the year, consumers are also having to pay 21% more to transport their crude, according to Société Générale (SG). In the Weekly Oils report of 11 October, SG Economist Alexandre Kervinio writes: The soaring costs of transporting oil arise from three factors: a global economic recovery promoting...
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