Middle East Economic Survey
VOL. LII
No 34
24-Aug-2009
CGES Warns That Flagging Chinese Demand Could End Oil Price Surge
A recent rise in oil prices that has taken OPEC Basket crude above $70/B is not justified by market fundamentals, according to Londons Centre for Global Energy Studies (CGES). In the latest Monthly Oil Report, published on 17 August, CGES observes: Global oil demand has collapsed, OPEC output is creeping up and the prospects of global economic recovery are uncertain, yet oil...
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