Middle East Economic Survey


No 13


CGES Sees Crude Oil In Short Supply As Refiners Boost Throughputs

By failing to increase oil supplies at its March meeting (MEES, 19 March) OPEC has set the scene for another upward spiral in oil prices over the summer, according to the Centre for Global Energy Studies (CGES). In the latest Monthly Oil Report, published on 19 March, CGES says: Having cut output at the start of the winter, OPEC always risked taking too much oil off the market at...