Oil demand weak as confidence wanes

Oil consumption in January dropped almost 10% compared to the same period last year and a month earlier, due to consumers’ lack of confidence, according to the Department of Energy Business. Director-general Peerapol Sakarin said consumption of all types of fuel in January averaged 19.3m litres per day, down from 21.4m litres a year earlier, and also down 8.9% from 21.1m litres in December.