Middle East Economic Survey

VOL. LIV

No 1-2

3/10-Jan-2011

OIL PRICES/SUPPLY /DEMAND/OPEC

OAPEC Ministers Agree Oil Market Well Supplied

The 85th meeting of the Ministerial Council of the Organization of Arab Petroleum Exporting Countries (OAPEC) gathered in Cairo on 25 December 2010, where most ministers agreed that crude oil supplies to world markets were ample and that current high prices were due primarily to the heavy winter weather occurring in the northern hemisphere. Eleven Arab...