CGES: Opec Cuts Working, Hurting Members

摘要

Opec supply cuts have halted the slide in oil prices and stabilize them around $45, but that is too low for the budgets of most Opec member nations, according to the latest Monthly Oil Report from the London-based Center for Global Energy Studies (CGES).Opec countries will try to push prices higher by cutting more output, yet that could prolong the current economic malaise and further erode demand for oil, says the report which was released on Tuesday.