Growth in world oil demand was impressive in November, with a combination of stronger economic growth and relatively weak product prices, especially in the price-sensitive US, as major drivers. Global oil consumption gained 1.43 million barrels pa- day (1.6%) year-on-year to a record high of 93.49 million b/d last month. Global demand increased by a downwardly revised 1.0% in October, with most of a 0.5 percentage point decline due to slower than anticipated Chinese growth, and down from 1.1% in September. Month-on-month, November global demand increased a fairly typical 905,000 b/d.
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