Booming global trade boosts oil demand; more predicted

Posted: March 8, 2018 at 1:59 a.m.

The strength of oil consumption took analysts by surprise last year, and played a big role in crude's recovery to a three-year high in January. Demand this year could even turn out to be "way in excess" of 2017's exuberant levels, Khalid al-Falih, the normally cautious energy minister of Saudi Arabia predicts. Data from industries like aviation, shipping and trucking suggest he might be right.

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