Halfway into 2017's oil supply cut, Asia remains awash with fuel - RTRS

Latest Thomson Reuters Oil Research and Forecasts data reveals that the Asian oil markets remain in surplus, despite halfway into an OPEC-led oil supply cut, which indicates that the cartel’s efforts to rein in a global glut have so far had little effect.

According to the data, around 714 million barrels of oil are being shipped to Asia this month, up 3% since December when the cuts were announced.

Oil flows to Asia, the world's biggest and fastest growing market, have risen to near record highs.

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