Asia's economic growth boosts diesel demand in the region
But refineries being shut for seasonal maintenance is expected to squeeze diesel supplies in the Asian market
Seoul
OIL investors rattled by the threat of US output can find some cheer from diesel demand in Asia.
Strong consumption of the fuel - used to power everything from lorries to ships and factories - underpinned crude's bull run last year, a rally that is now being threatened by surging American production. Still, while the risk of a crude glut looms, refineries being shut for spring-season maintenance is set to squeeze diesel supplies in the Asian market at a time when demand is being boosted by healthy economic growth.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Shell to exit South Africa's downstream businesses
EU clears Nippon Steel's US$14.9 billion purchase of US Steel
Shell in talks to sell Malaysia fuel stations to Saudi Aramco: sources
Indonesia's PGN, Freeport sign gas supply deal for smelter
Maersk says Red Sea disruption will cut capacity by 15-20% in Q2
China’s Sinopec in talks for gas offtake, stake in Canada’s Cedar LNG