Middle East Economic Survey


No 7


OPEC Ramps Up Demand Projections As Supply Surges

OPEC output nudged up in January to hit a fresh two-year high as the organization ramped up its projections for global oil demand growth and the call on OPEC crude. The upgraded numbers come amid a bull-run on prices, which has seen the OPEC Basket rise for six successive months to hit its highest monthly levels since September 2008.

The crude surge comes amid a wider commodity markets...