Oil Product Demand Growth In Asia Crashes

Oil product demand in Asia will grow by about 380,000 bpd this year, S&P Global Platts Analytics said this week. This is the lowest demand growth rate since 2009, the firm noted, and a sizeable decline from last year’s 780,000 bpd. As every other economic forecast for the region, the coronavirus outbreak is to blame. It has already slashed crude oil and fuel demand in China, where it started, and now that it has spread across the continent, it is having the same effect on a larger scale. "Global growth is set to take a hit as China's…