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High oil prices-II: Demand destruction already happening?
May 03: The term “demand destruction” is again entering the lexicon of the current crude oil market as the sharp rise in prices raises concerns about when do consumers start cutting back on their fuel consumption.
8There is also some preliminary evidence that India’s appetite for crude oil is leveling off, with imports trending lower so far this year.
8While there may be some seasonal slowing in India’s crude demand, it’s worth noting that April this year appears to be weaker
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