No 12



OPEC Output Cuts Helped Put A Floor Under 1Q Crude Prices, Says CGES

Despiteweak oil demand, OPECs output cuts and the reduction in Iraqi exports have puta floor of around $20/B

under Dated Brentprices in 1Q02, according to Londons Centre for Global Energy Studies (CGES). In its latestMonthly Oil Report, published on 18March, CGES says that its most pessimistic view of oil demand at the start of2002 has been borne out, with global 1Q02 consumption more than...