No 09



OPEC Underestimating Oil Demand, Says CGES

Oil prices are well above OPECs $22-28/B target range and oil demand appears to be surging, yet the organization has announced supply cuts and appears terrified that 2Q04 will bring a repeat of the oil price collapse of 1998, according to the Centre for Global Energy Studies (CGES). In its latest Monthly Oil Report, published on 23 February, CGES says: OPEC and others are misreading the market and risk choking...