Middle East Economic Survey


No 25


Société Générale Oil Outlook Progressively Bullish For 2010-11

In the latest issue of its Commodity Specials: Oil, released on 14 June, Société Générale has forecast a progressively bullish outlook for the next 18 months, but the bank has also revised downwards its previous crude oil price forecasts. The global economy is expected to grow by 4.4% in 2010 and 4.0% in 2011, translating into global oil demand growth of 1.5mn b/d and 1.4mn b/d...