Middle East Economic Survey


No 34


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...