Middle East Economic Survey


No 3



OPEC Output Hits Two-Year High In Response To Price Surge

OPEC responded to rising oil prices in December by hiking production to the highest levels in two years. But continued rising prices into January suggest that increased output has been a little too little, a little too late, notes one analyst. And the latest shipping data points to a fall in output in January.

December output stood at some 2mn b/d over the...