Asia’s oil demand growth is surging

Oil demand growth in key Asian economies has accelerated at its fastest rate since 2004 and could maintain momentum through the end of this year.

But just as hard-hit consumers in Thailand and Indonesia are finally adjusting to last year’s steep increase in their subsidised fuel rates, motorists and industries in China and India are being forced to bear a bigger share of rising global prices – a test that has yet to be scored.
Last week’s oil data was a turning point for the two giant nations, setting the strongest two-month growth streak since 2004, when a surge in Asian demand strained markets and helped carry US crude above the $50-mark for the first time.

Gulf Daily News