Middle East Economic Survey

VOL. XLIX

No 26

26-Jun-2006

SUPPLY/DEMAND

Crude Oil Abundance Only Temporary, Says CGES

The current abundance of crude oil in global markets is likely to be temporary, declining as more than 2mn b/d of refining capacity returns from maintenance, according to the Centre for Global Energy Studies (CGES). In its June Monthly Oil Report, CGES argues that this years Atlantic Basin refinery turnarounds have extended well into 2Q06, overlapping with Asian turnarounds to remove...