Middle East Economic Survey

VOL. LIII

No 8

22-Feb-2010

MEES Agenda

Higher Crude Oil Prices Adopted For 2010 Budgets

For their 2010 state budgets, oil producing countries have mostly used higher average crude prices than the previous year, according to the data coming in from the remaining reporting countries. They have been spurred by the climb from the $32/B low seen in December 2008 to current levels of over $70/B for benchmark crudes. Nevertheless, while many countries are using...