Middle East Economic Survey


No 9


CGES Says Crude Unlikely To Reach Desired OPEC Price Of $75/B In Current Climate

Despite worsening forecasts for the global economy, the price of crude oil has stabilized at around $40/B since mid-November, the Centre for Global Economic Studies (CGES) noted in its latestMonthly Oil Report (MOR), released on 23 February. And while global demand for crude has fallen rapidly, OPEC supply has fallen faster, removing the over-supply that emerged in...