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Asian oil demand growth in focus as OPEC+ move carves out supply roadmap
Asian crude buyers are unlikely to face a supply squeeze following extended production cuts by OPEC+ and Russia's move to slash output by an extra round, as plentiful non-OPEC supplies are set to fill the potential void, trade sources and analysts told S&P Global Commodity Insights. While the recent developments have largely laid out a clear near-term supply roadmap for global crude oil for the next few months, a feeble market reaction to those decisions suggests that demand growth, mainly in Asia, may fall short of pick up in overseas supply on the back of rising production in countries such as the United States and ... (full story)