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.End-Sep Crude Oil Stocks Highest Since 1980
Nov 29, 2010
[Dow Jones]--US crude oil stocks rose by 1.3% to 360.115 mln bbls, the highest end-Sep level since 1980, EIA data released Mon show. Stocks were 25.1 mln bbls, or 7.5%, above the year-ago level, the biggest surplus in any month since Sep 2009, when stocks were 10.2% above a year ago. End-Sep stocks were 42.3 mln bbls, or 13.3%, above the 5-year average. The rise came as refiners cut crude runs by 369,000 b/d from Aug levels, to 14.741 mln b/d. That was the lowest since March, but the most in Sep since '07 and 31,000 b/d above a year ago. US crude output rose 1.1% in Sep from Aug to 5.567 mln b/d, the most since May '05 and the highest level in Sep since '03. Crude imports in Sep fell 3.4%, or 318,000 b/d from Aug and were 1% below a year ago. Imports were the lowest in Sep since '08, when hurricanes disrupted flows, and the lowest in any month since Feb