Middle East Economic Survey

VOL. LII

No 5

2-Feb-2009

SUPPLY/DEMAND

CGES Says Market Balanced Between Weak Economic Outlook And OPEC Supply Cuts

Oil prices are for now balanced between downward pressure from the weakening global economy and upward pressure from OPEC oil supply cuts, the Centre for Global Energy Studies (CGES) said in its latest Monthly Oil Report (MOR), published on 26 January. Until the end of 2008, the economy had been winning, pushing oil prices down from the highs reached in...