Middle East Economic Survey


No 22


Capacity Constraints Preventing Crude Price Collapse, Says CGES

The crude oil price fall since the start of 2Q05 is not the beginning of a price collapse, according to Londons Centre for Global Energy Studies (CGES). In the latest Monthly Oil Report, published on 23 May, CGES says capacity throughput in the oil supply chain is too tight to allow a collapse: Low refinery runs in the US and high crude oil imports, which have remained above...