Thai January fuel demand down 6.3%

Demand for oil products in Thailand, excluding bitumen and liquefied petroleum gas, fell 6.3% in January from a year earlier to 571,551 barrels per day, Thailand’s Energy Ministry data showed. The ministry said demand fell for the first time since April 2009 as a result of high oil prices in the month compared to much lower prices a year earlier averaging just above US$40 a barrel. But analysts expect demand to improve in coming months amid signs of a global recovery that would buoy energy demand. (March 8, 2010)