decade low

摘要

Product stocks in the US, Europe and Japan have reached their lowest level in 10 years after a stockdraw of 675,000 b/d over the fourth and first quarters. Inventories in three regions are now 125mn bl lower than they were a year ago. Crude stocks rose in the first quarter as refinery turnarounds cut Atlantic basin crude runs. But they were still 20mn bl lower at the end of March com- pared with a year earlier.