Asia may put GCC on slippery slope - The National

A slowdown in the Asian industrial boom could pull the rug from under oil prices.

Producers and consumers alike have lowered their forecasts for oil demand growth not only in western economies but also in the East. That threatens to send crude prices below the US$100 mark - the price floor for most of this year - analysts warn.

'While Asian demand will be significantly stronger than in other parts of the world, we do not believe this will be sufficient to avoid declines,' says Ross Strachan, the commodities economist at Capital Economics in London.

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