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Asia overflowing with oil
- Saudi Arabia: Thursday, December 23 - 2004 at 08:34
A sharp fall in demand from China and Japan has left oil stocks at their highest levels since September, reported Reuters from Singapore. Regional hub Singapore was holding nearly 12m barrels of fuel oil last week with 20m barrels due to arrive in the next six weeks, said traders. Unless a new buying wave comes next week the supply glut is not likely to clear until February, they warned.
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Peter J. CooperThursday, December 23 - 2004 at 08:34 UAE local time (GMT+4)
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