Middle East Economic Survey

VOL. LIII

No 34

23-Aug-2010

The Influence Of Expectations On Oil Prices

By Nordine Ait-Laoussine and John Gault

Nordine Ait-Laoussine is a former oil minister of Algeria and now President of Geneva-based NALCOSA. John Gault is an independent economist and an associate of the Geneva Centre for Security Policy. Together, they prepare quarterly oil and gas market outlooks for clients.

Seven billion barrels of petroleum are in storage globally. OPEC is producing 2mn b/d of...