Middle East Economic Survey

VOL. XLVII

No 33

16-August-2004

EIA Predicts Average WTI Price Above $40/B For 3Q04

The price for WTI crude climbed above $40/B in early August despite increased output by key OPEC producers such as Saudi Arabia, according to the Energy Information Administration (EIA) of the US Department of Energy. In its latest monthly Short-Term Energy Outlook, published on 10 August, the EIA says: The projected average WTI price for 3Q04 is now almost $41/B, about $4/B higher than...