VOL. XLV

No 21

27-May-2002

OPEC

OPEC Faces Shrinking Market For ItsCrude At $25/B, Says CGES

Unless global demandpicks up significantly, OPEC faces a shrinking market for its oil if it remainsdetermined to defend a $25/B OPEC Basket price, according to the London-based Centrefor Global Energy Studies (CGES). In its latest Monthly Oil Report,published on 20 May, CGES says that OPEC appears unlikely to increase outputtargets at its June meeting, arguing that high oil prices reflect a political...