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
Add BT as a preferred source
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.
A top industry executive also expects the Organization of the Petroleum Exporting Countries (Opec) to continue its crude oil production cuts beyond March next year, in order to boost the expected initial public offering (IPO) of Saudi Arabia's national oil and gas company Saudi Aramco.
TRENDING NOW
Japan Home closing outlets; staff say Valu$ taking over operations
Timah Partners lands S$60 million facility from lenders including UOB, RHB
ComfortDelGro’s Zig to buy S$10 million worth of BYD cars for private-hire fleet
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
