No. 09

26 February 2001


CGES Sees 50/50 Chance Of OPEC Production Cuts In March

There is a 50/50 chance of an OPEC production cut in March as a result of pressure from Venezuelas President Hugo Chavez and other price hawks, according to Londons Centre for Global Energy Studies (CGES). In its latest Monthly Oil Report, published on 19 February, CGES says that the price for OPEC basket crudes is unlikely to drop beneath the lower limit of the organizations $22-28/B target price range...