Middle East Economic Survey


No 50


Crude Price Slide Halted Ahead Of OPEC Meeting

The steep crude oil price decline that began at the end of November came to a halt last week, as weekly US inventories data gave mixed signals about the health of US distillates stocks and as traders waited on the outcome of an OPEC ministerial meeting in Cairo on 10 December. On 8 December Saudi Oil Minister Ali Naimi told reporters, The winter is coming, our band is still $22-28/B, so why...