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Gas shortages raise oil demand as floating storage falls

Gas shortages could lift clean tanker rates as countries import more diesel to power generators. Opec said a sustained tankers recovery could take a year as emerging market demand and scrapping caught up

Oil demand is forecast to rise by half a million barrels per day as the global gas shortage drives a shift to using oil for power generation, the International Energy Agency says. Production is set to rise 2.7m barrels per day from September to the end of the year

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