- Global oil demand growth is weak in the short term due to a slowdown in projections but is expected to recover in the longer term. OPEC production capacity continues to grow significantly which will keep prices stable. - The viability of new gas-to-liquids (GTL) projects, which convert natural gas to diesel and other fuels, is uncertain and depends on oil and gas prices. GTL projects may not be viable in Asia given higher regional gas costs and potential low premiums for the cleaner-burning diesel they produce. - Over the next decade, fuel specifications in Asia, Europe and the US will converge and become more similar, allowing for global trade in refined products between regions based on