Middle East Economic Survey


No 34


OPEC Warns Of Second Half Slowdown

OPEC has notched up its estimate for oil demand growth in 2010 and next year projects positive, albeit modest, growth in OECD oil demand the first such annual rise since 2005 the latest OPEC Monthly Oil Market Report (MOMR) shows. But headline figures are somewhat misleading, with the demand upgrade weighted heavily towards the first half of 2010, and bloated inventories weighing on the market amid an...