Bearish signals: A pump jack operating in an oil field in the Permian Basin in Texas. Premiums refineries pay to procure immediate oil supplies are slumping. — AP
LONDON: Oil demand is shrivelling as the trade war between the United States and China trips up the global economy.
Estimates for March and April are pointing to year-on-year declines in regions that account for almost half of global oil demand, according to Morgan Stanley.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
