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Asia driving force of oil demand growth

More than half the growth in demand of about 1.7-1.8 million barrels a day came from Asia this year

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While demand growth in the past 3-4 years has been driven by consumer-linked oil products such as gasoline, this year's demand growth was driven by industry oil products such as diesel.

Singapore

OIL majors and global oil traders struck a bullish tone on Monday amid a rangebound oil price market, with many noting that oil demand has grown significantly this year in line with stronger global economic growth, and that the market is well on its way to rebalancing.

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