Asian oil demand will hit a record in April just as global crude values are lifted to levels not seen in three years by Middle East supply risks and top exporter Saudi Arabia withholding output and noisily pushing for prices at $80 to $100 per barrel. Most analysts have pointed to escalating Middle East conflicts, a crisis in Venezuela, and the supply cuts of Saudi Arabia and other producers as the main drivers taking global benchmark Brent and U.S. West Texas Intermediate crude futures this week to their highest since late 2014 at almost $75 and $70 a barrel, respectively Yet a much more fundamental reason has also sparked oil’s bull run: Asian demand, which Goldman Sachs said this week points to an average price of $80 a barrel in 2018. “Rising tensions in the Middle East have likely played a role in oil price strength, but we believe a tight physical market is the key driver,” U.S. investment bank Jefferies said on Friday in a note to clients. Trade data in Thomson Reuters Eikon shows seaborne imports of crude oil by Asia’s main buyers will hit a record this month, a big portion going to slake China’s voracious thirst.