Subscribe to RSS feedAsian oil surge will not replace downturn in Western demand
by
Liz McCarthy, London
—
last modified
Mar 15, 2010 09:11 AM
OWNERS of very large crude carriers cannot rely on a surge in Chinese and Indian oil imports alone to offset the drop in demand from countries in the western hemisphere.
DVB Bank has warned that although crude demand from Asia is expected to remain firm, the oil transportation sector needs to see a “marked improvement” from Western economies before market fundamentals will show any potential signs of stabilising.
“A lot...
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