Middle East Economic Survey


No 16


OPEC Forecast Highlights Economic Optimism, Production Lower In March

Mounting confidence in the global economic recovery is fuelling OPEC Basket oil prices rise to $80/B and beyond despite lingering concerns over weak fundamentals, OPECs latest Monthly Oil Market Report (MOMR) notes. Output compliance by the 11 OPEC members who participate in output agreements, with their 24.845mn b/d output target, has steadily unraveled. While...