Global oil stocks are being drawn down this quarter as supplies fail to keep pace with demand.Crude runs in the largest refining areas in August were over lmn b/d up on May,despite low utilisation rates in the Atlantic basin.But extra crude supplies have not been available to meet growing refiner demand.Reported stocks of crude and products in the US,EU 16,Japan,South Korea and Singapore fell by 20mn bl between May and August,leaving them 70mn bl down on a year earlier.
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