Oil above $100 curbs Asian demand as Gulf supply shrinks
S&P Global Energy says oil above $100 and restricted physical supplies are starting to curb Asian consumption, framing the pullback as demand curtailment rather than permanent destruction. Gulf Middle Eastern crude production has fallen to around 18.2 million barrels a day (per the report excerpt).
Oil above $100 a barrel and tighter physical supply are starting to curb Asian consumption, though the pullback is better viewed as demand curtailment rather than permanent demand destruction, S&P Global Energy said. 2 million barrels a...