Middle East Economic Survey


No 46


WTI Price Moves Into Upper $80s/B Range

The price of WTI settled at $87.81/B on 11 November, unchanged from the previous day, while ICE Brent has remained above $88/B since 4 November. The rising WTI price follows weekly data released by the US Energy Information Administration (EIA) showing a decline in crude oil and refined product inventories. Continuing growth in demand in China is also seen as a key factor in moving benchmark crude...