Middle East Economic Survey


No 45


OPEC Output Rebounds To Meet 4Q Demand Spurt

OPEC production in October arrested a run of three successive months of tightening supply to register a modest rise, according to MEES calculations. Marginally tightening stocks, expectations of higher demand and buoyant prices spurred on loosening OPEC compliance. But analyst consensus is that current prices the OPEC Basket topped $85/B on 3 November are not warranted. The fundamentals just...