Middle East Economic Survey
VOL. LII
No 30
27-Jul-2009
OIL PRICES/SUPPLY/DEMAND
CGES Says Oil Price Rally Ran Out Of Steam In Late June
The recent surge in oil prices, driven by Chinese stockbuilding and hopes of global economic recovery, ran out of steam in the second half of June, according to the Centre for Global Energy Studies (CGES). In the latest Monthly Oil Report, published on 20 July, CGES said: Having surged from $35/B at the beginning of the year to $70/B by the end of the second...
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