Middle East Economic Survey


No 31


Barclays Capital Sees WTI Averaging $92/B In 2011

The oil market is currently in a state of disequilibrium, Barclays Capital stated in the autumn issue of The Commodity Refiner, released on 16 July. While there has been a period of somewhat irrational nervousness, Barclays said there is a calming feature of the current price correction that seems to stand out compared to events in late 2008/early 2009: Even during events in the broader...