Oil Trade Interdependence: A closer, more strategic Gulf-Asia energy relationship is on the horizon

Tue, Mar 11, 2014 2:32 PM HKT

Oil trade has flourished between Gulf National Oil Companies (NOCs) and Asian NOCs and this is reflected more broadly in trade relationships between other Arab Gulf exporters and importers throughout Asia. What’s more, this trade interdependence is set to expand further over the next decades. Future demand growth will come from Asia -- while demand for Middle East crude in North America is on the decline.

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