Middle East Economic Survey


No 41


Crude Prices Break Out Of OPECs Perfect $70-80/B Price Range

The price of WTI crude oil spent the first week of October above OPECs so-called perfect price range of $70-80/B, although it remained lower than the price for ICE Brent. The rise in crude oil prices and reports that global crude oversupply is beginning to fade plus positive sentiment that the economy could be improving is expected to result in OPEC ministers deciding to...