Middle East Economic Survey


No 42


OPEC Keeps Steady Hand On Tiller Amid Uncertain Times

OPEC ministers, meeting on 14 October, as widely expected announced they would keep current production levels unchanged. While the market remained well supplied, OPEC was ready to act quickly and decisively if changing circumstances called for it, delegates and the final communiqué said. Prices were comfortable and oil demand has recovered from 2009 lows, but the sustainability of the...