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Faltering demand from China, India, Japan hampers rebalance of oil market

Three countries make up a fifth of 97 million bpd in global oil consumption

Reuters  |  Singapore 

As the global oil market frets about a stubborn supply glut, faltering demand growth in key Asian crude importers is further hampering efforts to restore market balance. A fuel glut in China, a hangover from demonetisation in India, and an ageing, declining population in Japan are holding back crude oil demand growth in three of the world's top four oil buyers. The three countries make up a fifth of 97 million barrels per day (bpd) in global oil consumption, and any hiccups among them will mean lower-than-expected oil demand growth in Asia, helping to undercut the ...

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First Published: Fri, June 23 2017. 13:50 IST
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