VOL. XLVI

No 21

26-May-2003

SUPPLY/DEMAND

CGES Sees Need For Substantial 3Q OPEC Production Cut

The industry should be able to absorb high OPEC oil production in 2Q03 without undermining oil prices, rebuilding global stocks at a rate of more than 2mn b/d during the quarter, according to Londons Centre for Global Energy Studies (CGES). In its latest Monthly Oil Report, published on 19 May, CGES adds: The OPEC 10, however, will need to make a substantial cut in oil production for 3Q03 when they meet...