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US oil futures rose to US$47.04 a barrel after the Organisation of Petroleum Exporting Countries (Opec) said it was raising its forecast for global oil demand for 2004 and 2005, and on jitters over supplies from Iraq and Russia, ahead of US inventory data.
EXXONMOBIL Corp is aggressively expanding its oils and lubricants business in the Asia-Pacific region through extensive motorsports promotions and research and development activities.
Malaysia is leading the ongoing negotiations with India on the Asean-India free trade area, which is expected to cover trade in goods, services and investments.