``Crude oil is also expected to witness some profit booking despite weather concerns which lead to closure of three major ports of Gulf of Mexico. Crude imports by South Korea dropped 12% in February from a year ago on poor margins and domestic oil product demand was also down 3% in the same period,`` said SMC in a report.
Global oil demand will grow faster than new supplies outside OPEC`s control in 2010, but stocks are likely to rise as OPEC is pumping cruder than the market needs with prices above USD 80 a barrel, `` it further added.
