No 05



Market Tightness Suggests Global Oil Demand Is Underestimated, Says CGES

There is great uncertainty over just how tight the oil market is, according to the Centre for Global Energy Studies (CGES). In its latest Monthly Oil Report, published on 26 January, CGES observed: Oil prices and observable commercial stocks suggest it is very tight, yet OPEC insists that the market is well supplied. If the supply/demand balances of OPEC and the IEA are correct (MEES, 26...