Middle East Economic Survey


No 29


OPEC Sees End To Fall In Demand For Its Crude

In 2011 demand for OPEC crude will rise, albeit modestly, predicts the latest OPEC Monthly Oil Market Report (MOMR). This follows three consecutive years of annual falls in the call for its crude, notes the MOMR, but it urges caution, noting major uncertainties on both demand and supply going forward.

If the past is a good guide, our initial projections are likely to be revised over the coming...