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Top oil traders see buoyant demand despite economic headwinds

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GENEVA, Oct 4 (Reuters) – Economic headwinds have yet to signifantly erode the world’s demand for oil, top oil traders said at the Argus European Crude Conference in Geneva on Tuesday.

“All the different factors suggest, yes, we may be heading into a slowdown but it will be shorter and shallower than people are expecting,” Trafigura’s chief economist Saad Rahim said.

Frederic Lasserre, global head of market research & analysis at Gunvor Group (GGL.UL) said that demand remained steady.

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“Oil demand … if you look at the latest data, it’s still doing OK. We were expecting some demand destruction, it did not really happen. Some countries had subsidies but still. We have been surprised,” he said.
Reporting by Julia Payne; Writing by Noah Browning; Editing by Louise Heavens

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