Middle East Economic Survey


No 7


OPEC Report Highlights Necessity Of Tight Quota Discipline

OPEC will have to rein back production if it wants to avoid an output surfeit that could pressure prices, supply/demand balances in the latest Monthly Oil Market Report (MOMR) show. Despite downgrades to its projections for non-OPEC supply growth, the MOMR estimates demand for OPEC crude will fall 650,000 b/d from the fourth quarter to this quarter and a further 800,000 b/d in the...