Oil prices edged lower in early trade on Friday, taking a pause from the previous session when futures gained steeply on optimism around higher energy demand from top crude importer China.
Chinese demand for oil is expected to keep climbing at an assured rate during the second half of the year, said Kuwait Petroleum Corp's chief executive. Concerns around interest rates also weighed, with investors worried that higher rates would slow the U.S. and European economies and reduce oil demand.
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India to soon overtake China as largest driver of oil demand - IEA chiefNEW DELHI : India will soon overtake China as the largest driver of global oil demand, International Energy Agency chief Fatih Birol said on Wednesday.'One of the reasons why we say this is that electrification of cars and buses in China is growing rapidly,' Birol told reporters on the sidelines of a G20
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
India soon to overtake China as largest oil demand driver -IEA chiefNEW DELHI :India will soon overtake China as the largest driver of global oil demand, International Energy Agency (IEA) chief Fatih Birol said on Wednesday.'One of the reasons why we say this is that electrification of cars and buses in China is growing rapidly,' Birol told reporters on the sidelines of a G20
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »