Middle East Economic Survey

VOL. L

No 52

24-December-2007

CGES Sees High Oil Prices Continuing Despite Extra OPEC Supply

Oil prices are likely to remain high into 2008, despite rising OPEC supply and fears about the state of the US economy, according to the Centre for Global Energy Studies (CGES). In the latest Monthly Oil Report, published on 17 December, CGES says OPEC members have begun to raise output levels: The small volumes of incremental oil that crept onto the market over the summer moved...