Middle East Economic Survey


No 20


WTI Price Slips Below $75/B Amid Cushing Stock Build And Eurozone Concerns

The price of WTI slipped to $74.40/B on 13 May due to rising inventories, particularly at the WTI delivery point at Cushing, Oklahoma. The US Energy Information Administration (EIA) reported that Cushing crude stocks had reached a new record high of 39mn barrels. Furthermore, concerns over the future of economic recovery in the Eurozone persist, resulting in a...