Middle East Economic Survey


No 48



US Extends Oil Supply Guarantee To Israel By Further 10 Years

The US has extended by a further 10 years its guarantee to supply Israel with emergency oil supplies during times of crisis, officials said on 23 November. The current 10-year agreement was signed in January 1995 (MEES, 16 January 1995). The US first made an oil supply commitment in a 15-year accord, signed in the summer of 1979. It was negotiated as a separate...