Middle East Economic Survey


No 13


CGES Sees Change In OPEC Market Policy

OPECs decision to raise output targets ahead of the second quarter (MEES, 21 March) marks a change in the organizations market management policy, according to Londons Centre for Global Energy Studies (CGES). In the latest Monthly Oil Report, published on 21 March, CGES says that OPEC appears to have accepted the need for a large 2Q stockbuild in the face of surging oil demand and limited refining...