Oil Prices to Keep Rising This Year on OPEC Supply Restrictions, CGES Says

(Bloomberg) -- Oil prices are likely to keep rising
for the rest of the year because of supply restrictions set by the
Organization of Petroleum Exporting Countries, the Centre for
Global Energy Studies said.

The price of crude won't decline as it did last year, when it
fell 27 percent from a record high in July through November, CGES
said in a monthly report today. OPEC, which last year agreed to
curtail output to keep prices around $60 a barrel, ought to raise
production, the report said.


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