Middle East Economic Survey


No 22


CGES Warns Of Mounting Pressure On OPEC To Raise Output

OPEC needs to take clear and decisive action at its 8 June meeting if it is to rebuild its credibility as the guarantor of oil market stability, according to Londons Centre for Global Energy Studies (CGES). However, in the 23 May Monthly Oil Report, CGES says: Few member countries would benefit from a rise in OPEC output. The report argues that most of the incremental production...