Rising oil prices are pushing up prices for fuels in Asia, and this is coming at a bad time; many Asian currencies are depreciating as economic growth falters. This is one of the major outtakes from this week’s S&P Global Platts Asia Pacific Petroleum Conference, and it should serve to rein in oil bulls’ enthusiasm in the near future. For now, all is great for those betting on still higher oil prices, experts attending the event told S&P Global Platts. “Good news for refiners is that India for one, oil demand won’t subside [for the next few decades],” one of them, the president of refining operations at Reliance Industries, Harish Mehta, said. Economic growth in the region will continue strong, at rates of over 4 percent, Mehta also said, with India and China leading the way as they lead the way in oil demand growth. This growth will encourage […]