Europe getting low

摘要

European inventories have fallen by 60mn bl since January. The loss of Libyan supplies, North Sea production problems and low refinery runs have squeezed supplies of crude and products. A draw of 140,000 b/d in September left EU- 16 crude inventories below 450mn bl for the first time since February 2003. Crude stocks had reached a record 502mn bl during the worst of the recession in early 2009.