SUPPLY /DEMAND

CGES Says Eroding Stock Cover Key Factor In Keeping Crude Oil Prices High

Despite the facts that Gulf crude producing members of OPEC, led by Saudi Arabia, began in July to boost output by 650,000 b/d and that International Energy Agency (IEA) members have also started releasing strategic stocks, the London-based Centre for Global Energy Studies (CGES) in its 18 July Monthly Oil Report noted that crude oil supplies remain tight and that prices have returned to the levels...