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Volatile Prices For Short Term, Says CGES

An unexpected supply shortage has taken the pressure off OPEC to cut output, according to Londons Centre for Global Energy Studies (CGES). In the Monthly Oil Report of 18 December, CGES says that low stocks have left the market vulnerable to sudden cuts in supply, and that the potential loss of Iraqi supplies and the worsening political crisis in Venezuela have contributed to growing uncertainty which will keep oil prices...