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Global Oil Demand Up By 1.4mbpd YoY in Q1

OIL

Global oil demand rose by 1.4mbpd on the year in the first quarter of this year and averaged 101.2mbpd in March, JP Morgan said in a note.

  • Chinese oil demand was tracking 15.8mbpd in the first quarter of this year.
  • High frequency indicators suggested highway volumes continue to improve and China-US flight activity is rising. The number of trucks on China’s expressways remained elevated at 53.8mn.

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