Middle East Economic Survey


No 24


OPEC Sees Market Riven With Uncertainties, Output Held Steady In May

The latest edition of OPECs Monthly Oil Market Report (MOMR) paints a relatively rosy picture, with the oil demand growth projection for 2010 unchanged at 950,000 b/d and its estimate for world economic growth upgraded to 3.8%, from 3.5% last month and 2.9% back in December. But beneath the headline figures a number of wild card factors threaten to render projections...