Middle East Economic Survey


No 22


CGES Says Euro Crisis Refocuses Market On Developed Nations

The crisis in the European Union has turned the crude oil market around in the space of four weeks, with it now fixated on the risks of a double-dip recession, the Centre for Global Energy Studies (CGES) said in its latest Monthly Oil Report (MOR), released on 24 May. Noting that Brent oil prices have fallen by nearly $15/B or 17% over the last four weeks, CGES said: Fears of a...