According to preliminary data OECD oil demand fell byrn4.5% y-o-y in March. Preliminary data indicates that US oil product demand fell 5.9% y-o-y in March, the fall in demand in OECD Pacific was more pronounced at an estimated rate of 7.6% y-o-y. In OECD Europe preliminary data indicates that oil product demand fell by 0.3% y-o-y in March following strong counter seasonal heating oil demand. Oil demand in the US has declined uninterruptedly over the past year and a half and the pace of decline, according to preliminary data, in March was 5.9% y-o-y.
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