VOL. XL No. 1621-April-1997

OPEC

Medium-Term Price Outlook Remains Bleak, SaysCGES

Although fears of an imminent price collapse are premature, the medium-termprice outlook remains bleak, according to the Monthly Oil Report published bythe London-based Centre for Global Energy Studies (CGES). CGES notes that somesupport for crude prices can be expected as a result of higher refinery runs inthe US ahead of the gasoline season, while oil demand in the Far East maycontinue to be understated....