VOL. XLVI

No 38

22-September-2003

OPEC

SUPPLY/DEMAND

CGES Sees Need For OPEC Output Cuts In Early 2004

Unless Iraqs oil exports grind to an almost complete halt early in 2004, other members of OPEC will have to make big output cuts if they wish to prop up prices, according to Londons Centre for Global Energy Studies (CGES). In its latest Monthly Oil Report, published on 15 September, CGES says: As long as global oil demand continues to grow more slowly than non-OPEC-10 oil supply (Iraq will be...