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Japan's oil, LNG demand set to rise in summer

03/28/2011
Eric WatkinsOil Diplomacy EditorCrude oil futures prices rose 1.6% on speculation Japanese rebuilding efforts will bolster fuel consumption, with gasoline production recovering to nearly to the point where it stood before the Mar. 11 earthquake and tsunami."Japanese oil demand took a hit initially but is going to rebound in spades," said Bill O'Grady, chief market strategist at St. Louis-based Confluence Investment Management. "The situation won't be resolved soon and will probably get worse before it gets better."The earthquake earlier this month hit northeastern Japan hard and stopped production at six refineries, but by Mar. 21, three, including JX Nippon Oil & ...
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