Vitol Expects Asia-Driven Oil Demand Growth in Second Half Of Year

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Oil demand is set to pick up in the second half of the year with as much as 2 million barrels per day (bpd) more needed on the back of Asian growth, the president of Vitol Asia VITOLV.UL said on Monday, reports Nasdaq.

Oil demand

“We are going into a second half of the year where, largely on account of Asian demand growth, the world will need around 2 million bpd more,” Mike Muller told the Middle East Petroleum and Gas conference in Dubai.

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Source: Nasdaq