Middle East Economic Survey

VOL. XLIX

No 13

27-March-2006

OIL PRICES

High Prices Will Continue Despite Modest Crude Demand Growth, Says CGES

Dated Brent should average around $60/B in 2006 another record year and could go even higher despite only modest crude oil demand growth, according to Londons Centre for Global Energy Studies (CGES). In the latest Monthly Oil Report, published on 20 March, CGES says: High oil prices are showing little sign of tipping the world into recession, as efficiency...