Middle East Economic Survey


No 18


CGES Says Market Ignoring OECD Weakness As Prices Pass $80/B Psychological Barrier

Crude oil prices have finally broken through the psychological barrier of $80/B and appear intent on remaining there, the Centre for Global Energy Studies (CGES) said in its Monthly Oil Report, released on 26 April. Crude prices are now $10/B above their first quarter average, the CGES noted and added that OPECs repeated warnings of second-quarter weakness...