Middle East Economic Survey

VOL. LIII

No 7

15-Feb-2010

2010 A Bridge Between 2009 Demand And 2011 Supply, Says Barclays Capital

2010 is expected by Barclays Capital to be a bridging year between demand-side weakness of 2009 and supply-side tightness in 2011. In its Global Energy Outlook published on 8 February, Barclays Capital forecast the price of WTI to average $85/B in 2010, $23/B above the 2009 average, but still below the $99.7/B average of 2008. We believe price gains will be skewed...