Middle East Economic Survey

VOL. LIV

No 5

31-Jan-2011

OIL PRICES

WTI Remains In High $80s/B Range, IEA Sees Demand Driving Price Increase

The price of WTI crude slipped through most trading days of the week to settle at $85.64/B on 27 January. Weaker data on the US economy, reports of higher exports from Saudi Arabia, coupled with reports from Oil Movements that seaborne crude shipments are rising, put pressure on WTI, while Brent closed the day at $97.39/B. The US Energy Information...