Growing Asian Oil Demand Could Drain The Supply Glut

By Tsvetana Paraskova The global oil glut that crashed the crude prices from $100 highs more than two years ago has not yet cleared, and the most optimistic forecasts currently are that the market could swing into a small deficit toward the end of the first half of this year. In terms of regional markets, the Asian one – where energy demand growth is expected to drive global oil demand growth for at least a decade or two – has been showing increased crude oil imports over the past three months. Asian buyers now have plenty of choice – OPEC’s output cuts…

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