Asia's diesel demand to grow slightly in 2014

(MENAFN) Asia's diesel demand is forecasted to grow in 2014 at a slow pace as slowing economies and subsidy cuts minimize consumption and help build a surplus for which there are few markets, The Peninsula Qatar reported. According to one oil and gas consultancy, demand in top regional consumers China, India and Indonesia is expected to remain steady or fall. As new refining capacity is added in Asia and the Middle East, excess diesel is seen hitting an annual average of more than a million barrels per day (b/d) in 2014. "A partial recovery this year is expected but growth will probably still fall short of the levels seen in 2011 or 2012," said Alex Yap at energy consultancy FGE.