Middle East Economic Survey


No 45


OPEC Output Rose In October

Rebounding Libyan production was the main driver behind a rise in OPEC output in October, MEES estimates show. Extreme opaqueness in physical markets mean these figures should be treated carefully, but it does appear clear that in October at least OPEC failed to deliver, from a consumers viewpoint, any meaningful production response to mounting fears of a looming global economic recession.

According to tanker...