No. 8



CGES Sees Oil Price Decline In 1997

As oil prices begin to retreat because of a mild winter and rising output from OPEC and non-OPEC producers, the London-based Centre for Global Energy Studies (CGES) states in its latest Monthly Oil Report that the question now is "how much will oil prices weaken, rather than whether they will decline during the course of the year." This is how CGES sees potential price scenarios throughout the year:

"It seems that the best...