Middle East Economic Survey


No 5


OPEC Price Target Now Near $40/B, Claims CGES

OPEC has abandoned the $22-28/B target price band for its basket of crudes and is now aiming for prices close to $40/B, according to Londons Centre for Global Energy Studies (CGES). In the latest Monthly Oil Report, published on 24 January, CGES says: Whatever their public stance, every member of the organization is seeking to maintain the price of the OPEC basket of crudes well above $28/B...