VOL. XLVI

No 4

27-January-2003

SUPPLY/DEMAND

CGES Warns Of Continuing Market Volatility

Oil prices will remain highly volatile in 1Q03, driven by both the lack of flexibility in the supply chain and by political uncertainty, according to Londons Centre for Global Energy Studies (CGES). In the Monthly Oil Report of 20 January, CGES argues that OPECs January decision to raise quotas has done nothing to alleviate market tightness, caused by low US stocks, Venezuelas oil stoppage and uncertainty over...