Middle East Economic Survey


No 48



CGES Envisages OPEC Supply Cut In 2006 Unless Demand Growth Recovers

OPEC will have to cut oil output in 2006 in order to defend prices, unless global demand growth bounces back strongly, according to Londons Centre for Global Energy Studies (CGES). In its latest Monthly Oil Report, published on 21 November, CGES says: The size and timing of the output cut will depend on the strength of underlying demand growth and the...