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Data: Asia's oil imports slow as economic growth falters
10:43 - 02/07/2018
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Information / Baghdad ..
Asia's demand for imported oil will slow for the second month in a row in July as economic growth begins to falter amid rising trade friction with the United States, trade data showed on Monday.
Initial demand data on Thomson Reuters Aikon from contract shipments of major suppliers for July showed a sharp drop compared to June, a month usually showing a slight increase in shipments.
Initial orders in July fell 11 percent from June to 16.7 million bpd, averaging 19.3 million bpd from May to July.
The figure is high but remains below the 20.2 million bpd level recorded in the same month last year and is also low compared to the 2016 levels.
The figures come on the back of slowing production growth and export orders in key economic centers in Asia, in China, Japan and South Korea, as trade tensions with the United States escalate. Ending / 25
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