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LPNEWS

Oil Looms Large Over Saudi King's Asia Tour

by money.cnn.com posted 1year ago 790 views
<p>The kingdom is the world&#39;s largest oil exporter, so it&#39;s little surprise that energy is top billing as Salman travels&nbsp;<a href="http://www.cnn.com/2017/03/01/asia/saudi-visit-indonesia/">with 1,500 people in tow</a>. He&#39;s already been to Malaysia and Indonesia, with economic giants Japan and China up next.</p> <p>The big focus for major oil producers is on markets where demand is growing. Right now, that means Asia.<br /> <br /> Growth in global demand for crude is forecast to accelerate to 1.4 million barrels a day this year, according to FACTS Global Energy. One million of that is expected to come from Asia.</p>