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OGJ Newsletter

07/28/2008
General Interest — Quick TakesCGES: World needs more OPEC crudeThe world needs more crude oil priced at a level that makes it economic to refine, said analysts at the Centre for Global Energy Studies (CGES), London.CGES squarely places the blame for today’s tight oil market on the Organization of Petroleum Exporting Countries. The organization continues to assert that the world is well supplied with crude and refuses to accept that production needs to rise, CGES said in its latest Monthly Oil Report.The report refutes the assertion that the market has enough oil, pointing out that global oil inventories fell for six consecutive quarters between the fourth quarter of 2006 and t...
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