Traders See Continued Strong Crude Demand on Oil Price Slump
April 21 2015 - 09:56AM
Dow Jones News
By Sarah Kent
LAUSANNE--Strong oil demand in the first months of the year is
pointing to an uptick in consumption amidst the deepest price slump
since the 2008 financial crisis, a panel of commodities traders
told an industry conference Tuesday.
Vitol, the world's largest oil trader, sees oil demand
increasing by 1.2 million barrels a day this year, almost double
its rate of growth last year. BP PLC's (BP) trading arm is
expecting oil demand will be at the top end of forecasts this year
at around 1.4 million to 1.5 million barrels a day.
Write to Sarah Kent at sarah.kent@wsj.com
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