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Looming petrol glut, rampant crude output threaten price rebound
Big gasoline importers China and Japan are flipping to exports; margins in Singapore halve as stocks rise
Add BT as a preferred sourcePublished Mon, Apr 25, 2016 · 09:50 PM
Singapore
A REBOUND in oil prices this year from 12-year lows is in danger of coming to a crashing halt, as the main engine of global demand growth for the past several years starts to sputter amid signs of a gasoline glut.
Crude oil has rallied more than two-thirds from its mid-January nadir on robust demand from refineries worldwide, stoking cautious optimism among producers and exporters that the epic rout that slashed global prices by 75 per cent between mid-2014 and early 2016 is finally over.
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