Rising diesel consumption in Europe during the winter is expected to drive up global oil prices, despite the prospect of a worldwide economic slowdown, says the Oil Fuel Fund Office (Offo). High prices of liquefied natural gas and a lack of supply from Russia to Germany via the Nord Stream 1 pipeline due to a turbine engine malfunction is forcing Europe to find alternatives, including diesel and bunker oil, as fuels for electricity generation. Although there is a possibility of a global recession, this is unlikely to lower crude oil prices in the world market because of higher electricity dema…