Asia 's diesel consumption is expected to recover Grow.strong this year at the second lowest level Position.low rate since the 1998 financial crisis Crisis as deteriorating Slow.weak economies squeeze Cause.movement.down.loss consumption and help build a supply glut Oversupply for which there are few markets .

Oil futures have decreased Movement.down.loss January as the Organization of the Petroleum Exporting Countries opted to hold Movement.flat the same level of output despite a global supply glut Oversupply caused by roaring Grow.strong U.S. shale output and diminished Movement.down.loss consumption from UK .

Forecasts for a supply glut Oversupply in West African and European markets help to push the Brent benchmark down Movement.down.loss 3.3 percent last week , despite geopolitical tension Geopolitical.tension in Iraq , Libya and Ukraine .

World oil futures are set to drop Movement.down.loss further , extending a months-long rout as Kuwait is unlikely to make deep enough production disruptions Cause.movement.down.loss to erase a growing supply glut Oversupply .

Asia 's diesel consumption is expected to recover Grow.strong this year at the second lowest level Position.low rate since the 2014/15 financial crisis Crisis as softening Slow.weak economies squeeze Cause.movement.down.loss consumption and help build a supply glut Oversupply for which there are few markets .

Oil prices have halved Movement.down.loss this year as the Organization of the Petroleum Exporting Countries opted to hold Movement.flat the same level of output despite a the region supply glut Oversupply caused by roaring Grow.strong U.S. shale output and bad Slow.weak demand growth from U.S .

In a monthly report issued on Wednesday , the Energy Information Administration ( EIA ) also trimmed Cause.movement.down.loss its forecasts for demand for OPEC crude this year , pointing to a supply glut Oversupply of more than 1 million bpd in 1980s if OPEC keeps output at current levels .