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HOUSTON: Oil price rose about 2.5% on Wednesday after government data showed a surprise draw in U.S. crude stocks and as the prospect of deeper output cuts by OPEC and its allies offered support.
DAEGU (South Korea): Net oil imports in the Asia-Pacific will rise to more than 25 million barrels per day in 2035, or close to the current crude output in the Middle East, as energy demand growth outpaces the rest of the world, the Asian Development Bank said on Monday.
BEIJING: China is set to overtake the United States as the world's largest net oil importer from October, according to US figures, due to a combination of rising Chinese demand and increased US production.
Lin See-Yan underlines the basic weaknesses in the international monetary system.